KLA Corporation Stock Forecast
Weaker technical forecast for KLA Corporation as stock downgraded to Sell Candidate.
(Updated on May 01, 2024)
The KLA Corporation stock price fell by -3.37% on the last day (Wednesday, 1st May 2024) from $689.29 to $666.04. During the last trading day the stock fluctuated 4.41% from a day low at $662.50 to a day high of $691.73. The price has risen in 6 of the last 10 days and is up by 1.07% over the past 2 weeks. Volume has increased on the last day by 379 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $830.52 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.21% during the next 3 months and, with a 90% probability hold a price between $666.00 and $785.18 at the end of this 3-month period.
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KLAC Signals & Forecast
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. The KLA Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $679.03 and $684.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -6.71%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for KLA Corporation stock
KLA Corporation finds support from accumulated volume at $651.77 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 $29.23 between high and low, or 4.41%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KLAC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect KLA Corporation to open at $673.42, and during the day (based on 14 day Average True Range), to move between $643.62 and $688.46, which gives a possible trading interval of +/-$22.42 (+/-3.37%) up or down from last closing price. If KLA Corporation takes out the full calculated possible swing range there will be an estimated 6.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $651.77 (2.14%) than the resistance at $683.90 (2.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KLA Corporation stock A Buy?
The KLA Corporation stock holds several negative signals and despite the positive trend, we believe KLA Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.640 Sell Candidate Downgraded
Predicted Opening Price for KLA Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $673.42 ( 1.11%) | $666.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KLAC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 702.65 | 5.50 % | |
| R2 | 691.49 | 3.82 % | ||
| R1 | 684.59 | 2.78 % | ||
| Current price: | 666.04 | |||
| Support | S1 | 662.26 | -0.568 % | |
| S2 | 655.36 | -1.60 % | ||
| S3 | 644.19 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 717.57 | 7.74 % | |
| R2 | 706.26 | 6.04 % | ||
| R1 | 683.90 | 2.68 % | ||
| Current price | 666.04 | |||
| Support | S1 | 651.77 | -2.14% | |
| S2 | 649.80 | -2.44% | ||
| S3 | 641.07 | -3.75% |
KLAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 15, 2024 | Mar 01, 2024 | $1.45 | 0.202% |
| 2 | Nov 02, 2023 | Nov 14, 2023 | Dec 01, 2023 | $1.45 | 0.264% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Sep 01, 2023 | $1.30 | 0.256% |
| 4 | Aug 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $1.30 | 0.256% |
| 5 | May 04, 2023 | May 12, 2023 | Jun 01, 2023 | $1.30 | 0.287% |
FAQ
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