SEMITEC Corporation Stock Forecast
SEMITEC Corporation stock upgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The SEMITEC Corporation stock price gained 0.506% on the last trading day (Wednesday, 8th May 2024), rising from JP¥1,780.00 to JP¥1,789.00. During the last trading day the stock fluctuated 1.13% from a day low at JP¥1,771.00 to a day high of JP¥1,791.00. The price has been going up and down for this period, and there has been a 4.56% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 5 thousand shares were bought and sold for approximately JP¥8.05 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SEMITEC Corporation stock with a 90% probability to be traded between JP¥1,721.47 and JP¥1,851.27 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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6626.T Signals & Forecast
The SEMITEC Corporation 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¥1,766.29 and JP¥1,774.94. 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 4.56%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, April 01, 2024 in the short-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
The stock had a Golden Star Signal on Monday, April 01, 2024 in the short-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.
A sell signal from a double top formation was found on Thursday, April 11, 2024 and based on theory for this formation the price should fall by -7.09% to JP¥1,662.20 within 25 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for SEMITEC Corporation stock
SEMITEC Corporation finds support from accumulated volume at JP¥1,775.00 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¥20.00 between high and low, or 1.13%. For the last week the stock has had daily average volatility of 2.15%.
Our recommended stop-loss: JP¥1,705.48 (-4.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (6626.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect SEMITEC Corporation to open at JP¥1,783.67, and during the day (based on 14 day Average True Range), to move between JP¥1,748.35 and JP¥1,829.65, which gives a possible trading interval of +/-JP¥40.65 (+/-2.27%) up or down from last closing price. If SEMITEC Corporation takes out the full calculated possible swing range there will be an estimated 4.54% 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¥1,775.00 (0.78%) than the resistance at JP¥1,806.00 (0.95%), 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
SEMITEC Corporation will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for SEMITEC Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.60% in the first trading day after earnings release.
Is SEMITEC Corporation stock A Buy?
SEMITEC Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.021 Hold/Accumulate Upgraded
Predicted Opening Price for SEMITEC Corporation of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥1,783.67 ( 0.298%) | JP¥1,789.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6626.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,803.67 | 0.82 % | |
| R2 | 1,796.03 | 0.393 % | ||
| R1 | 1,791.31 | 0.129 % | ||
| Current price: | 1,789.00 | |||
| Support | S1 | 1,776.03 | -0.725 % | |
| S2 | 1,771.31 | -0.99 % | ||
| S3 | 1,763.67 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,835.00 | 2.57 % | |
| R2 | 1,821.00 | 1.79 % | ||
| R1 | 1,806.00 | 0.95 % | ||
| Current price | 1,789.00 | |||
| Support | S1 | 1,775.00 | -0.783% | |
| S2 | 1,766.00 | -1.29% | ||
| S3 | 1,724.00 | -3.63% |
6626 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥17.50 | 0.719% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥12.50 | 0.693% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥2.50 | 0.210% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥5.00 | 1.19% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥2.50 | 0.197% |
FAQ
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