Very red day for Aehr Test Systems stock price after -6.72% fall in Wednesday trading session
(Updated on Sep 20, 2023)
The Aehr Test Systems stock price fell by -6.72% on the last day (Wednesday, 20th Sep 2023) from $48.65 to $45.38. During the last trading day the stock fluctuated 9.96% from a day low at $45.32 to a day high of $49.84. The price has fallen in 8 of the last 10 days and is down by -14.07% for this period. Volume has increased on the last day by 167 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 591 thousand shares were bought and sold for approximately $26.83 million.
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The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $42.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.80% during the next 3 months and, with a 90% probability hold a price between $48.30 and $65.51 at the end of this 3-month period.
AEHR Signals & Forecast
There are few to no technical positive signals at the moment. The Aehr Test Systems stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $47.56 and $46.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, September 06, 2023, and so far it has fallen -14.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Aehr Test Systems stock
On the downside, the stock finds support just below today's level from accumulated volume at $41.43 and $39.95. 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, Aehr Test Systems finds support just below today's level at $41.43. If this is broken, then the next support from accumulated volume will be at $39.95 and $39.89.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.52 between high and low, or 9.96%. For the last week, the stock has had daily average volatility of 6.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AEHR) For The Upcoming Trading Day Of Thursday 21st
For the upcoming trading day on Thursday, 21st we expect Aehr Test Systems to open at $46.85, and during the day (based on 14 day Average True Range), to move between $42.40 and $48.36, which gives a possible trading interval of +/-$2.98 (+/-6.56%) up or down from last closing price. If Aehr Test Systems takes out the full calculated possible swing range there will be an estimated 13.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $48.96 (7.89%) than the support at $41.43 (8.70%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Aehr Test Systems stock A Buy?
The Aehr Test Systems stock holds several negative signals and despite the positive trend, we believe Aehr Test Systems will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.506 Open Broker AccountSell Candidate Downgraded
Predicted Opening Price for Aehr Test Systems of Thursday, September 21, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 21, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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About Aehr Test Systems
Aehr Test Systems provides test systems for burning-in and testing logic, optical, and memory integrated circuits worldwide. It offers products, such as the ABTS and FOX-P families of test and burn-in systems and FOX WaferPak Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier, and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for lower power and higher power logic devices, as well as vari... AEHR Profile
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