EMCORE Corporation Stock Forecast

High volatility in EMCORE Corporation stock price on Monday which ended trading at $2.74
(Updated on Apr 15, 2024)

EMKR Signals & Forecast

The EMCORE Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.97. On a fall, the stock will find some support from the long-term average at approximately $1.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, April 02, 2024, and so far it has fallen -24.73%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for EMCORE Corporation stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.300 between high and low, or 11.19%. For the last week the stock has had daily average volatility of 9.56%.

Our recommended stop-loss: $2.59 (-5.48%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (EMKR) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect EMCORE Corporation to open at $2.80, and during the day (based on 14 day Average True Range), to move between $2.47 and $3.01, which gives a possible trading interval of +/-$0.265 (+/-9.67%) up or down from last closing price. If EMCORE Corporation takes out the full calculated possible swing range there will be an estimated 19.34% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.86, some $0.120 (4.38%) from the current price of $2.74, our system finds the risk reward not very attractive.

Is EMCORE Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for EMCORE Corporation stock to perform well in the short-term.

Current score: 1.102 Buy Candidate Unchanged

Predicted Opening Price for EMCORE Corporation of Tuesday, April 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.