UMC Electronics Co.,Ltd. Stock Forecast
UMC Electronics Co.,Ltd. stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The UMC Electronics Co.,Ltd. stock price gained 2.60% on the last trading day (Friday, 31st May 2024), rising from JP¥384.00 to JP¥394.00. During the last trading day the stock fluctuated 2.07% from a day low at JP¥386.00 to a day high of JP¥394.00. The price has risen in 7 of the last 10 days and is up by 7.36% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 26 thousand shares were bought and sold for approximately JP¥10.32 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 stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥400.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.61% during the next 3 months and, with a 90% probability hold a price between JP¥370.30 and JP¥418.97 at the end of this 3-month period.
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6615.T Signals & Forecast
Mostly positive signals in the chart today. The UMC Electronics 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 JP¥387.43 and JP¥364.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 12.89%. 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. The stock had a Golden Star Signal on Monday, May 13, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, May 13, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for UMC Electronics Co.,Ltd. stock
UMC Electronics Co.,Ltd. finds support from accumulated volume at JP¥387.00 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 JP¥8.00 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: JP¥382.02 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 46 days ago.)
Trading Expectations (6615.T) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect UMC Electronics Co.,Ltd. to open at JP¥391.33, and during the day (based on 14 day Average True Range), to move between JP¥382.79 and JP¥405.21, which gives a possible trading interval of +/-JP¥11.21 (+/-2.84%) 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 5.69% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥387.00, some JP¥7.00 (1.78%) from the current price of JP¥394.00, our system finds the risk reward attractive.
Is UMC Electronics Co.,Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for UMC Electronics Co.,Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.107 Buy Candidate Upgraded
Predicted Opening Price for UMC Electronics Co.,Ltd. of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
JP¥391.33 ( 0.677%) | JP¥394.00 |
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 | 399.33 | 1.35 % | |
R2 | 396.28 | 0.578 % | ||
R1 | 394.39 | 0.0988 % | ||
Current price: | 394.00 | |||
Support | S1 | 388.28 | -1.45 % | |
S2 | 386.39 | -1.93 % | ||
S3 | 383.33 | -2.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 394.00 | |||
Support | S1 | 387.00 | -1.78% | |
S2 | 356.00 | -9.64% | ||
S3 | 353.00 | -10.41% |
6615 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
2 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥30.00 | 12.77% |
3 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥30.00 | 1.87% |
4 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | JP¥5.00 | 0.198% |
5 | Mar 29, 2017 | Mar 29, 2017 | Mar 29, 2017 | JP¥22.30 | 1.41% |
FAQ
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