Ingenic Semiconductor Co Ltd Stock Forecast
Ingenic Semiconductor Co Ltd stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Ingenic Semiconductor Co Ltd stock price gained 2.14% on the last trading day (Thursday, 9th May 2024), rising from ¥62.94 to ¥64.29. During the last trading day the stock fluctuated 2.69% from a day low at ¥62.79 to a day high of ¥64.48. The price has risen in 7 of the last 10 days and is up by 4.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ¥431.81 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ingenic Semiconductor Co Ltd stock with a 90% probability to be traded between ¥48.26 and ¥67.58 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300223.SZ Signals & Forecast
The Ingenic 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 ¥63.45 and ¥63.34. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, March 22, 2024, and so far it has fallen -7.00%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ingenic Semiconductor Co Ltd stock
Ingenic Semiconductor Co Ltd finds support from accumulated volume at ¥64.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥1.69 (2.69%) between high and low. For the last week, the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: ¥61.04 (-5.06%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (300223.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Ingenic Semiconductor Co Ltd to open at ¥63.85, and during the day (based on 14 day Average True Range), to move between ¥61.23 and ¥67.35, which gives a possible trading interval of +/-¥3.06 (+/-4.76%) up or down from last closing price. If Ingenic Semiconductor Co Ltd takes out the full calculated possible swing range there will be an estimated 9.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥64.20 (0.14%) than the resistance at ¥64.64 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ingenic Semiconductor Co Ltd will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Ingenic Semiconductor Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.50% in the first trading day after earnings release.
Is Ingenic Semiconductor Co Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ingenic Semiconductor Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.266 Buy Candidate Upgraded
Predicted Opening Price for Ingenic Semiconductor Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥63.85 ( 0.679%) | ¥64.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300223.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.54 | 1.95 % | |
| R2 | 64.90 | 0.95 % | ||
| R1 | 64.50 | 0.325 % | ||
| Current price: | 64.29 | |||
| Support | S1 | 63.21 | -1.68 % | |
| S2 | 62.81 | -2.30 % | ||
| S3 | 62.16 | -3.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.23 | 3.02 % | |
| R2 | 66.07 | 2.77 % | ||
| R1 | 64.64 | 0.544 % | ||
| Current price | 64.29 | |||
| Support | S1 | 64.20 | -0.140% | |
| S2 | 61.52 | -4.31% | ||
| S3 | 61.20 | -4.81% |
300223 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.0800 | 0.0935% |
| 2 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | ¥0.190 | 0.210% |
| 3 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | ¥0.130 | 0.147% |
| 4 | May 27, 2019 | May 27, 2019 | May 27, 2019 | ¥0.0300 | 0.103% |
| 5 | Jun 12, 2018 | Jun 12, 2018 | Jun 12, 2018 | ¥0.0167 | 0.0717% |
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