UMC Electronics Co.,Ltd. Stock Forecast
UMC Electronics Co.,Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)
The UMC Electronics Co.,Ltd. stock price fell by -0.85% on the last day (Wednesday, 8th May 2024) from JP¥352.00 to JP¥349.00. During the last trading day the stock fluctuated 2.29% from a day low at JP¥349.00 to a day high of JP¥357.00. The price has risen in 5 of the last 10 days but is still down by -0.29% for this period. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 30 thousand shares were bought and sold for approximately JP¥10.30 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect UMC Electronics Co.,Ltd. stock with a 90% probability to be traded between JP¥338.44 and JP¥392.33 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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6615.T Signals & Forecast
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. The UMC Electronics Co.,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥351.71 and JP¥360.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -9.82%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for UMC Electronics Co.,Ltd. stock
UMC Electronics Co.,Ltd. finds support from accumulated volume at JP¥347.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥8.00 between high and low, or 2.29%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6615.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect UMC Electronics Co.,Ltd. to open at JP¥351.67, and during the day (based on 14 day Average True Range), to move between JP¥340.44 and JP¥357.56, which gives a possible trading interval of +/-JP¥8.56 (+/-2.45%) up or down from last closing price. If UMC Electronics Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥347.00 (0.57%) than the resistance at JP¥355.00 (1.72%), 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
UMC Electronics Co.,Ltd. will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for UMC Electronics Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.47% in the first trading day after earnings release.
Is UMC Electronics Co.,Ltd. stock A Buy?
UMC Electronics Co.,Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.692 Sell Candidate Downgraded
Predicted Opening Price for UMC Electronics Co.,Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥351.67 ( 0.764%) | JP¥349.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6615.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 359.67 | 3.06 % | |
| R2 | 356.61 | 2.18 % | ||
| R1 | 354.72 | 1.64 % | ||
| Current price: | 349.00 | |||
| Support | S1 | 348.61 | -0.112 % | |
| S2 | 346.72 | -0.653 % | ||
| S3 | 343.67 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 387.00 | 10.89 % | |
| R2 | 356.00 | 2.01 % | ||
| R1 | 355.00 | 1.72 % | ||
| Current price | 349.00 | |||
| Support | S1 | 347.00 | -0.573% | |
| S2 | 346.00 | -0.86% | ||
| S3 | 332.00 | -4.87% |
6615 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥30.00 | 12.77% |
| 2 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥30.00 | 1.87% |
| 3 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | JP¥5.00 | 0.198% |
| 4 | Mar 29, 2017 | Mar 29, 2017 | Mar 29, 2017 | JP¥22.30 | 1.41% |
| 5 | Mar 29, 2016 | Mar 29, 2016 | Mar 29, 2016 | JP¥22.30 | 2.15% |
FAQ
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