GigaMedia Limited Stock Forecast
GigaMedia Limited stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The GigaMedia Limited stock price gained 4.58% on the last trading day (Tuesday, 23rd Apr 2024), rising from $1.31 to $1.37. During the last trading day the stock fluctuated 5.34% from a day low at $1.31 to a day high of $1.38. The price has risen in 5 of the last 10 days and is up by 3.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 57 thousand shares were bought and sold for approximately $78.63 thousand.
Given the current short-term trend, the stock is expected to fall -7.48% during the next 3 months and, with a 90% probability hold a price between $1.10 and $1.27 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GIGM Signals & Forecast
The GigaMedia Limited 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 $1.31 and $1.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 10.93%. Further rise is indicated until a new top pivot has been found. GigaMedia Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for GigaMedia Limited stock
GigaMedia Limited finds support from accumulated volume at $1.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0700 between high and low, or 5.34%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $1.32 (-4.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (GIGM) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect GigaMedia Limited to open at $1.35, and during the day (based on 14 day Average True Range), to move between $1.33 and $1.41, which gives a possible trading interval of +/-$0.0409 (+/-2.99%) up or down from last closing price. If GigaMedia Limited takes out the full calculated possible swing range there will be an estimated 5.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.36 (0.72%) than the resistance at $1.38 (0.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
GigaMedia Limited will release earnings -- on Wednesday, May 01, 2024. We will update the financials statements for GigaMedia Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.52% in the first trading day after earnings release.
Is GigaMedia Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.307 Buy Candidate Upgraded
Predicted Opening Price for GigaMedia Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $1.35 ( 1.22%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIGM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.42 | 3.89 % | |
| R2 | 1.40 | 1.94 % | ||
| R1 | 1.38 | 0.735 % | ||
| Current price: | 1.37 | |||
| Support | S1 | 1.33 | -3.17 % | |
| S2 | 1.31 | -4.37 % | ||
| S3 | 1.28 | -6.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.41 | 2.92 % | |
| R2 | 1.40 | 2.19 % | ||
| R1 | 1.38 | 0.730 % | ||
| Current price | 1.37 | |||
| Support | S1 | 1.36 | -0.723% | |
| S2 | 1.34 | -2.19% | ||
| S3 | 1.30 | -5.11% |
GIGM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2002 | Apr 01, 2002 | Mar 29, 2002 | $2.00 | 80.65% |
FAQ
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