ITM Semiconductor Co., Ltd. Stock Forecast
ITM Semiconductor Co., Ltd. stock downgraded to Buy Candidate
(Updated on Jun 18, 2024)
The ITM Semiconductor Co., Ltd. stock price gained 1.34% on the last trading day (Tuesday, 18th Jun 2024), rising from ₩26,050.00 to ₩26,400.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.81% from a day low at ₩25,600.00 to a day high of ₩27,600.00. The price has risen in 6 of the last 10 days and is up by 20% over the past 2 weeks. Volume fell on the last day by -956 thousand shares and in total, 263 thousand shares were bought and sold for approximately ₩6.95 billion. 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 wide and strong 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 ₩25,456.24, a level that may pose a second chance to hit a runner. According to fan-theory ₩29,413.75 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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084850.KQ Signals & Forecast
Mostly positive signals in the chart today. The ITM Semiconductor Co., 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 ₩24,542.86 and ₩21,865.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 26.32%. 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.
Support, Risk & Stop-loss for ITM Semiconductor Co., Ltd. stock
ITM Semiconductor Co., Ltd. finds support from accumulated volume at ₩26,050.00 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 ₩2,000.00 between high and low, or 7.81%. For the last week, the stock has had daily average volatility of 11.24%.
Our recommended stop-loss: ₩25,203.11 (-4.53%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (084850.KQ) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect ITM Semiconductor Co., Ltd. to open at ₩26,533.33, and during the day (based on 14 day Average True Range), to move between ₩24,329.97 and ₩28,470.03, which gives a possible trading interval of +/-₩2,070.03 (+/-7.84%) up or down from last closing price. If ITM Semiconductor Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩26,050.00, some ₩350.00 (1.33%) from the current price of ₩26,400.00, our system finds the risk reward attractive.
Is ITM Semiconductor Co., Ltd. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for ITM Semiconductor Co., Ltd. stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.938 Buy Candidate Downgraded
Predicted Opening Price for ITM Semiconductor Co., Ltd. of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₩26,533.33 ( 0.505%) | ₩26,400.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 084850.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28,533.33 | 8.08% |
| R2 | 27,769.33 | 5.19% |
| R1 | 27,297.33 | 3.40% |
| Price | 26,400.00 | |
| S1 | 25,769.33 | -2.39% |
| S2 | 25,297.33 | -4.18% |
| S3 | 24,533.33 | -7.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 26,400.00 | |
| S1 | 26,050.00 | -1.33% |
| S2 | 24,800.00 | -6.06% |
| S3 | 24,150.00 | -8.52% |
084850 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩200.00 | 0.467% |
FAQ
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