TOREX SEMICONDUCTOR LTD. Stock Forecast
Stronger technical forecast for TOREX SEMICONDUCTOR LTD. stock price after Thursday trading.
(Updated on May 02, 2024)
The TOREX SEMICONDUCTOR LTD. stock price fell by -0.337% on the last day (Thursday, 2nd May 2024) from JP¥1,782.00 to JP¥1,776.00. During the last trading day the stock fluctuated 1.99% from a day low at JP¥1,763.00 to a day high of JP¥1,798.00. The price has risen in 7 of the last 10 days and is up by 5.34% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 thousand shares and in total, 9 thousand shares were bought and sold for approximately JP¥16.52 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.78% during the next 3 months and, with a 90% probability hold a price between JP¥1,543.79 and JP¥1,755.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6616.T Signals & Forecast
The TOREX SEMICONDUCTOR LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥1,738.57 and JP¥1,762.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.38%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for TOREX SEMICONDUCTOR LTD. stock
TOREX SEMICONDUCTOR LTD. finds support from accumulated volume at JP¥1,746.00 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 JP¥35.00 (1.99%) between high and low. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: JP¥1,701.23 (-4.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (6616.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TOREX SEMICONDUCTOR LTD. to open at JP¥1,779.00, and during the day (based on 14 day Average True Range), to move between JP¥1,728.60 and JP¥1,823.40, which gives a possible trading interval of +/-JP¥47.40 (+/-2.67%) up or down from last closing price. If TOREX SEMICONDUCTOR LTD. takes out the full calculated possible swing range there will be an estimated 5.34% 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¥1,746.00 (1.69%) than the resistance at JP¥1,812.00 (2.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TOREX SEMICONDUCTOR LTD. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 1.722 Buy Candidate Upgraded
Predicted Opening Price for TOREX SEMICONDUCTOR LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,779.00 ( 0.169%) | JP¥1,776.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6616.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,814.00 | 2.14 % | |
| R2 | 1,800.63 | 1.39 % | ||
| R1 | 1,792.37 | 0.92 % | ||
| Current price: | 1,776.00 | |||
| Support | S1 | 1,765.63 | -0.584 % | |
| S2 | 1,757.37 | -1.05 % | ||
| S3 | 1,744.00 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,836.00 | 3.38 % | |
| R2 | 1,832.00 | 3.15 % | ||
| R1 | 1,812.00 | 2.03 % | ||
| Current price | 1,776.00 | |||
| Support | S1 | 1,746.00 | -1.69% | |
| S2 | 1,730.00 | -2.59% | ||
| S3 | 1,654.00 | -6.87% |
6616 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥28.00 | 1.18% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥28.00 | 1.08% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥24.00 | 0.87% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥20.00 | 0.713% |
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