SemiLEDS Corporation Stock Forecast
SemiLEDS Corporation stock price ended at $1.58 on Tuesday, after losing 3.07%.
(Updated on Apr 23, 2024)
The SemiLEDS Corporation stock price fell by -3.07% on the last day (Tuesday, 23rd Apr 2024) from $1.63 to $1.58. During the last trading day the stock fluctuated 5.84% from a day low at $1.54 to a day high of $1.63. The price has been going up and down for this period, and there has been a 4.64% gain for the last 2 weeks. Volume has increased on the last day by 12 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, 20 thousand shares were bought and sold for approximately $32.02 thousand.
The stock lies in the middle of a very 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 9.09% during the next 3 months and, with a 90% probability hold a price between $1.49 and $2.02 at the end of this 3-month period.
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LEDS Signals & Forecast
The SemiLEDS Corporation 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 $1.58 and $1.51. 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). 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 Monday, February 26, 2024, and so far it has fallen -9.71%. Further fall is indicated until a new bottom pivot has been found. SemiLEDS Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for SemiLEDS Corporation stock
SemiLEDS Corporation finds support from accumulated volume at $1.57 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 $0.0900 between high and low, or 5.84%. For the last week, the stock has had daily average volatility of 6.53%.
Our recommended stop-loss: $1.50 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (LEDS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect SemiLEDS Corporation to open at $1.58, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.71, which gives a possible trading interval of +/-$0.127 (+/-8.05%) up or down from last closing price. If SemiLEDS Corporation takes out the full calculated possible swing range there will be an estimated 16.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.57 (0.64%) than the resistance at $1.62 (2.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SemiLEDS 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 SemiLEDS Corporation stock to perform well in the short-term.
Current score: 1.464 Buy Candidate Unchanged
Predicted Opening Price for SemiLEDS Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $1.58 ( 0.211%) | $1.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEDS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.67 | 5.91 % | |
| R2 | 1.64 | 3.73 % | ||
| R1 | 1.62 | 2.39 % | ||
| Current price: | 1.58 | |||
| Support | S1 | 1.55 | -1.96 % | |
| S2 | 1.53 | -3.31 % | ||
| S3 | 1.49 | -5.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.75 | 10.76 % | |
| R2 | 1.73 | 9.49 % | ||
| R1 | 1.62 | 2.53 % | ||
| Current price | 1.58 | |||
| Support | S1 | 1.57 | -0.639% | |
| S2 | 1.49 | -5.70% | ||
| S3 | 1.45 | -8.54% |
FAQ
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