Silicom Ltd Stock Forecast
Green day on Tuesday for Silicom Ltd
(Updated on May 07, 2024)
The Silicom Ltd stock price gained 3.58% on the last trading day (Tuesday, 7th May 2024), rising from $16.75 to $17.35. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.76% from a day low at $16.49 to a day high of $17.44. The price has risen in 8 of the last 10 days and is up by 12.99% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 16 thousand shares were bought and sold for approximately $282.56 thousand. 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 has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $16.03, a level that may pose a second chance to hit a runner.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SILC Signals & Forecast
The Silicom Ltd 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 $16.21 and $15.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 16.84%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Thursday, March 28, 2024 with a target of $15.73. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Silicom Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $16.18 and $15.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Silicom Ltd finds support just below today's level at $16.18. If this is broken, then the next support from accumulated volume will be at $15.35 and $15.20.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.95 between high and low, or 5.76%. For the last week the stock has had daily average volatility of 3.96%.
The Silicom Ltd stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Silicom Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $16.86 (-2.84%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (SILC) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Silicom Ltd to open at $17.09, and during the day (based on 14 day Average True Range), to move between $16.92 and $17.78, which gives a possible trading interval of +/-$0.432 (+/-2.49%) up or down from last closing price. If Silicom Ltd takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $16.18, some $1.17 (6.74%) from the current price of $17.35, our system finds the risk reward attractive.
Is Silicom Ltd stock A Buy?
Silicom Ltd 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Silicom Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $17.09 ( 1.48%) | $17.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SILC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.04 | 4.00 % | |
| R2 | 17.68 | 1.90 % | ||
| R1 | 17.46 | 0.612 % | ||
| Current price: | 17.35 | |||
| Support | S1 | 16.73 | -3.57 % | |
| S2 | 16.51 | -4.86 % | ||
| S3 | 16.14 | -6.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 17.35 | |||
| Support | S1 | 16.18 | -6.74% | |
| S2 | 15.35 | -11.53% | ||
| S3 | 15.20 | -12.39% |
SILC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2017 | Mar 23, 2017 | Apr 05, 2017 | $1.00 | 2.16% |
| 2 | Mar 21, 2016 | Mar 31, 2016 | Apr 14, 2016 | $1.00 | 3.01% |
| 3 | Mar 23, 2015 | Apr 01, 2015 | Apr 21, 2015 | $1.00 | 2.42% |
| 4 | Mar 18, 2014 | Apr 03, 2014 | Apr 17, 2014 | $1.00 | 1.80% |
| 5 | Mar 18, 2013 | Apr 02, 2013 | Apr 17, 2013 | $0.550 | 2.04% |
FAQ
Click here for our free guide on how to buy Silicom Ltd Stock.
