Amkor Technology Stock Forecast
Evaluation of Amkor Technology stock downgraded after the last trading session.
(Updated on May 09, 2024)
The Amkor Technology stock price gained 0.277% on the last trading day (Thursday, 9th May 2024), rising from $32.54 to $32.63. During the last trading day the stock fluctuated 1.83% from a day low at $32.17 to a day high of $32.76. The price has risen in 8 of the last 10 days and is up by 8.44% over the past 2 weeks. Volume fell on the last day by -132 thousand shares and in total, 533 thousand shares were bought and sold for approximately $17.40 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Amkor Technology stock with a 90% probability to be traded between $28.31 and $35.77 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AMKR Signals & Forecast
The Amkor Technology stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $32.09 and $31.38. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.458%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Amkor Technology stock
Amkor Technology finds support from accumulated volume at $32.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.590 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: $31.59 (-3.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (AMKR) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Amkor Technology to open at $32.52, and during the day (based on 14 day Average True Range), to move between $31.33 and $33.93, which gives a possible trading interval of +/-$1.30 (+/-3.98%) up or down from last closing price. If Amkor Technology takes out the full calculated possible swing range there will be an estimated 7.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $32.35 (0.86%) than the resistance at $33.55 (2.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Amkor Technology stock A Buy?
Amkor Technology holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.532 Hold/Accumulate Downgraded
Predicted Opening Price for Amkor Technology of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $32.52 ( 0.337%) | $32.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMKR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.11 | 1.47 % | |
| R2 | 32.88 | 0.780 % | ||
| R1 | 32.75 | 0.354 % | ||
| Current price: | 32.63 | |||
| Support | S1 | 32.29 | -1.03 % | |
| S2 | 32.16 | -1.45 % | ||
| S3 | 31.93 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.16 | 7.75 % | |
| R2 | 33.75 | 3.43 % | ||
| R1 | 33.55 | 2.82 % | ||
| Current price | 32.63 | |||
| Support | S1 | 32.35 | -0.86% | |
| S2 | 31.46 | -3.59% | ||
| S3 | 30.33 | -7.05% |
AMKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 11, 2024 | Apr 01, 2024 | $0.0788 | 0.248% |
| 2 | Nov 14, 2023 | Dec 04, 2023 | Dec 26, 2023 | $0.0788 | 0.230% |
| 3 | Aug 15, 2023 | Sep 01, 2023 | Sep 25, 2023 | $0.0750 | 0.335% |
| 4 | May 16, 2023 | Jun 05, 2023 | Jun 26, 2023 | $0.0750 | 0.285% |
| 5 | Feb 07, 2023 | Feb 27, 2023 | Mar 20, 2023 | $0.0750 | 0.300% |
FAQ
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