Advanced Semiconductor Engineering Inc Stock Forecast
Weaker technical forecast for Advanced Semiconductor Engineering Inc as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Advanced Semiconductor Engineering Inc stock price gained 3.64% on the last trading day (Friday, 3rd May 2024), rising from $10.16 to $10.53. During the last trading day the stock fluctuated 1.54% from a day low at $10.40 to a day high of $10.56. The price has risen in 6 of the last 10 days and is up by 4.78% 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, 193 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $55.56 million.
The stock lies in the middle of a wide and weak 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 10.00% during the next 3 months and, with a 90% probability hold a price between $10.94 and $13.62 at the end of this 3-month period.
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ASX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 6.26%. Further rise is indicated until a new top pivot has been found. 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. The Advanced Semiconductor Engineering Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.72. On a fall, the stock will find some support from the short-term average at $10.17. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Advanced Semiconductor Engineering Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.94 and $9.91. 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, Advanced Semiconductor Engineering Inc finds support just below today's level at $9.94. If this is broken, then the next support from accumulated volume will be at $9.91 and $9.35.
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 $0.160 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Advanced Semiconductor Engineering Inc to open at $10.50, and during the day (based on 14 day Average True Range), to move between $10.22 and $10.84, which gives a possible trading interval of +/-$0.306 (+/-2.91%) up or down from last closing price. If Advanced Semiconductor Engineering Inc takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.98 (4.27%) than the support at $9.94 (5.60%), 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 Advanced Semiconductor Engineering Inc stock A Buy?
Advanced Semiconductor Engineering Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.270 Sell Candidate Downgraded
Predicted Opening Price for Advanced Semiconductor Engineering Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$10.50 ( 0.317%) | $10.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.66 | 1.20 % | |
R2 | 10.60 | 0.622 % | ||
R1 | 10.56 | 0.264 % | ||
Current price: | 10.53 | |||
Support | S1 | 10.44 | -0.90 % | |
S2 | 10.40 | -1.26 % | ||
S3 | 10.34 | -1.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.22 | 6.55 % | |
R2 | 10.99 | 4.37 % | ||
R1 | 10.98 | 4.27 % | ||
Current price | 10.53 | |||
Support | S1 | 9.94 | -5.60% | |
S2 | 9.91 | -5.89% | ||
S3 | 9.35 | -11.21% |
ASX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 31, 2023 | Jun 30, 2023 | Aug 03, 2023 | $0.571 | 7.49% |
2 | Jun 07, 2022 | Jun 29, 2022 | Aug 04, 2022 | $0.479 | 7.96% |
3 | Aug 16, 2021 | Sep 03, 2021 | Aug 04, 2022 | $0.302 | 5.02% |
4 | Jul 30, 2020 | Aug 13, 2020 | Sep 17, 2020 | $0.136 | 3.20% |
5 | Aug 10, 2018 | Aug 10, 2018 | Aug 10, 2018 | $0.164 | 3.35% |
FAQ
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