Montage Technology Co., Ltd. Stock Forecast
Montage Technology Co., Ltd. stock price up 1.98% on Friday
(Updated on Jun 28, 2024)
The Montage Technology Co., Ltd. stock price gained 1.98% on the last trading day (Friday, 28th Jun 2024), rising from $56.05 to $57.16. During the last trading day the stock fluctuated 4.31% from a day low at $55.27 to a day high of $57.65. The price has risen in 8 of the last 10 days and is up by 7.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately $998.83 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.10% during the next 3 months and, with a 90% probability hold a price between $64.31 and $71.44 at the end of this 3-month period.
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688008.SS Signals & Forecast
Mostly positive signals in the chart today. The Montage Technology 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 $56.36 and $52.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 12.96%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Montage Technology Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $53.00 and $50.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Montage Technology Co., Ltd. finds support just below today's level at $53.00. If this is broken, then the next support from accumulated volume will be at $50.77 and $47.15.
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 $2.38 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 4.66%.
Our recommended stop-loss: $54.36 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (688008.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Montage Technology Co., Ltd. to open at $56.69, and during the day (based on 14 day Average True Range), to move between $55.09 and $59.23, which gives a possible trading interval of +/-$2.07 (+/-3.62%) up or down from last closing price. If Montage Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.23% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $53.00, some $4.16 (7.28%) from the current price of $57.16, our system finds the risk reward attractive.
Is Montage Technology 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 Montage Technology Co., Ltd. stock to perform well in the short-term.
Current score: 4.853 Buy Candidate Unchanged
Predicted Opening Price for Montage Technology Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $56.69 ( 0.82%) | $57.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688008.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.07 | 3.35% |
| R2 | 58.16 | 1.76% |
| R1 | 57.60 | 0.774% |
| Price | 57.16 | |
| S1 | 55.78 | -2.41% |
| S2 | 55.22 | -3.39% |
| S3 | 54.31 | -4.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 57.16 | |
| S1 | 53.00 | -7.28% |
| S2 | 50.77 | -11.18% |
| S3 | 47.15 | -17.51% |
688008 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.300 | 0.586% |
| 2 | Aug 11, 2023 | Aug 11, 2023 | Aug 11, 2023 | $0.300 | 0.550% |
| 3 | Aug 05, 2022 | Aug 05, 2022 | Aug 05, 2022 | $0.300 | 0.477% |
| 4 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | $0.300 | 0.476% |
| 5 | Jul 06, 2020 | Jul 06, 2020 | Jul 06, 2020 | $0.300 | 0.262% |
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