ASM Pacific Technology Limited Stock Forecast
Green day on Tuesday for ASM Pacific Technology Limited
(Updated on Jul 02, 2024)
The ASM Pacific Technology Limited stock price gained 1.29% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$108.90 to HK$110.30. During the last trading day the stock fluctuated 4.30% from a day low at HK$107.10 to a day high of HK$111.70. The price has risen in 7 of the last 10 days and is up by 11.3% over the past 2 weeks. Volume fell on the last day by -90 thousand shares and in total, 2 million shares were bought and sold for approximately HK$193.53 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$109.54, a level that may pose a second chance to hit a runner. According to fan-theory HK$128.89 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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0522.HK Signals & Forecast
The ASM Pacific Technology 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 HK$103.46 and HK$98.39. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 16.97%. 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). 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.
A buy signal from a double bottom formation was found on Thursday, April 25, 2024 with a target of HK$104.48. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for ASM Pacific Technology Limited stock
ASM Pacific Technology Limited finds support from accumulated volume at HK$109.40 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 HK$4.60 between high and low, or 4.30%. For the last week, the stock has had daily average volatility of 4.53%.
Our recommended stop-loss: HK$106.86 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (0522.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect ASM Pacific Technology Limited to open at HK$109.70, and during the day (based on 14 day Average True Range), to move between HK$105.99 and HK$114.61, which gives a possible trading interval of +/-HK$4.31 (+/-3.91%) up or down from last closing price. If ASM Pacific Technology Limited takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$109.40 (0.82%) than the resistance at HK$112.90 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ASM Pacific Technology Limited stock A Buy?
ASM Pacific Technology Limited 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 ASM Pacific Technology Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$109.70 ( 0.544%) | HK$110.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0522.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 114.30 | 3.63% |
| R2 | 112.54 | 2.03% |
| R1 | 111.46 | 1.05% |
| Price | 110.30 | |
| S1 | 107.94 | -2.14% |
| S2 | 106.86 | -3.12% |
| S3 | 105.10 | -4.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 112.90 | 2.36% |
| Price | 110.30 | |
| S1 | 109.40 | -0.82% |
| S2 | 102.30 | -7.25% |
| S3 | 101.00 | -8.43% |
0522 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 31, 2024 | HK$0.780 | 0.84% |
| 2 | Aug 14, 2023 | Aug 14, 2023 | Aug 31, 2023 | HK$0.610 | 0.777% |
| 3 | May 12, 2023 | May 12, 2023 | May 12, 2023 | HK$1.90 | 3.26% |
| 4 | Aug 12, 2022 | Aug 12, 2022 | Aug 12, 2022 | HK$1.30 | 2.00% |
| 5 | May 12, 2022 | May 12, 2022 | May 12, 2022 | HK$2.60 | 3.50% |
FAQ
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