TOREX SEMICONDUCTOR LTD. Stock Forecast
Green day on Tuesday for TOREX SEMICONDUCTOR LTD.
(Updated on May 21, 2024)
The TOREX SEMICONDUCTOR LTD. stock price gained 1.35% on the last trading day (Tuesday, 21st May 2024), rising from JP¥1,776.00 to JP¥1,800.00. During the last trading day the stock fluctuated 2.19% from a day low at JP¥1,778.00 to a day high of JP¥1,817.00. The price has risen in 5 of the last 10 days but is still down by -0.28% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 18 thousand shares were bought and sold for approximately JP¥31.86 million.
The stock lies the upper part of a wide and falling 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¥1,846.41 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.24% during the next 3 months and, with a 90% probability hold a price between JP¥1,513.13 and JP¥1,731.26 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. 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¥1,791.14 and JP¥1,755.49. 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 Tuesday, May 14, 2024, and so far it has fallen -3.07%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TOREX SEMICONDUCTOR LTD. stock
TOREX SEMICONDUCTOR LTD. finds support from accumulated volume at JP¥1,792.00 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¥39.00 between high and low, or 2.19%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6616.T) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect TOREX SEMICONDUCTOR LTD. to open at JP¥1,798.33, and during the day (based on 14 day Average True Range), to move between JP¥1,752.17 and JP¥1,847.83, which gives a possible trading interval of +/-JP¥47.83 (+/-2.66%) up or down from last closing price. If TOREX SEMICONDUCTOR LTD. takes out the full calculated possible swing range there will be an estimated 5.31% 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¥1,792.00 (0.44%) than the resistance at JP¥1,812.00 (0.67%), 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?
TOREX SEMICONDUCTOR LTD. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.324 Sell Candidate Unchanged
Predicted Opening Price for TOREX SEMICONDUCTOR LTD. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| JP¥1,798.33 ( 0.0926%) | JP¥1,800.00 |
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 | 1,837.33 | 2.07 % | |
| R2 | 1,822.44 | 1.25 % | ||
| R1 | 1,813.23 | 0.735 % | ||
| Current price: | 1,800.00 | |||
| Support | S1 | 1,783.44 | -0.92 % | |
| S2 | 1,774.23 | -1.43 % | ||
| S3 | 1,759.33 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,832.00 | 1.78 % | |
| R2 | 1,814.00 | 0.778 % | ||
| R1 | 1,812.00 | 0.667 % | ||
| Current price | 1,800.00 | |||
| Support | S1 | 1,792.00 | -0.444% | |
| S2 | 1,746.00 | -3.00% | ||
| S3 | 1,654.00 | -8.11% |
6616 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥28.00 | 1.18% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥28.00 | 1.08% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥24.00 | 0.87% |
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