Advanced Semiconductor Engineering Inc Stock Forecast
Advanced Semiconductor Engineering Inc stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Advanced Semiconductor Engineering Inc stock price gained 2.52% on the last trading day (Thursday, 2nd May 2024), rising from $9.91 to $10.16. During the last trading day the stock fluctuated 3.39% from a day low at $9.89 to a day high of $10.22. The price has been going up and down for this period, and there has been a -1.84% loss for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 5 million shares were bought and sold for approximately $51.65 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 lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.93 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.22% during the next 3 months and, with a 90% probability hold a price between $10.94 and $13.66 at the end of this 3-month period.
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ASX Signals & Forecast
There are mixed signals in the stock today. The Advanced Semiconductor Engineering Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.73. On a fall, the stock will find some support from the short-term average at $10.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.52%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Advanced Semiconductor Engineering Inc stock
Advanced Semiconductor Engineering Inc finds support from accumulated volume at $9.94 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 $0.335 between high and low, or 3.39%. For the last week, the stock has had daily average volatility of 2.79%.
Our recommended stop-loss: $9.67 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (ASX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Advanced Semiconductor Engineering Inc to open at $10.09, and during the day (based on 14 day Average True Range), to move between $9.86 and $10.46, which gives a possible trading interval of +/-$0.299 (+/-2.94%) up or down from last closing price. If Advanced Semiconductor Engineering Inc takes out the full calculated possible swing range there will be an estimated 5.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.94 (2.17%) than the resistance at $10.98 (8.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Advanced Semiconductor Engineering Inc stock A Buy?
Advanced Semiconductor Engineering Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.068 Hold/Accumulate Upgraded
Predicted Opening Price for Advanced Semiconductor Engineering Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $10.09 ( 0.705%) | $10.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.42 | 2.59 % | |
| R2 | 10.30 | 1.33 % | ||
| R1 | 10.22 | 0.554 % | ||
| Current price: | 10.16 | |||
| Support | S1 | 9.96 | -1.96 % | |
| S2 | 9.88 | -2.74 % | ||
| S3 | 9.75 | -4.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.22 | 10.43 % | |
| R2 | 10.99 | 8.17 % | ||
| R1 | 10.98 | 8.07 % | ||
| Current price | 10.16 | |||
| Support | S1 | 9.94 | -2.17% | |
| S2 | 9.91 | -2.46% | ||
| S3 | 9.35 | -7.97% |
ASX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | Jun 30, 2023 | Aug 03, 2023 | $0.571 | 7.49% |
| 2 | Jun 07, 2022 | Jun 29, 2022 | Aug 04, 2022 | $0.479 | 7.96% |
| 3 | Aug 16, 2021 | Sep 03, 2021 | Aug 04, 2022 | $0.302 | 5.02% |
| 4 | Jul 30, 2020 | Aug 13, 2020 | Sep 17, 2020 | $0.136 | 3.20% |
| 5 | Aug 10, 2018 | Aug 10, 2018 | Aug 10, 2018 | $0.164 | 3.35% |
FAQ
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