Benchmark Electronics Inc Stock Forecast
Benchmark Electronics Inc stock price up 0.265% on Wednesday
(Updated on May 01, 2024)
The Benchmark Electronics Inc stock price gained 0.265% on the last trading day (Wednesday, 1st May 2024), rising from $30.21 to $30.29. During the last trading day the stock fluctuated 2.95% from a day low at $29.52 to a day high of $30.39. The price has risen in 6 of the last 10 days and is up by 0.83% over the past 2 weeks. Volume fell on the last day by -161 thousand shares and in total, 280 thousand shares were bought and sold for approximately $8.49 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 Benchmark Electronics Inc stock with a 90% probability to be traded between $28.86 and $31.68 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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BHE Signals & Forecast
The Benchmark Electronics Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $30.68. On a fall, the stock will find some support from the long-term average at approximately $29.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -3.81%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Benchmark Electronics Inc stock
Benchmark Electronics Inc finds support from accumulated volume at $30.21 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.87 (2.95%) between high and low. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $28.86 (-4.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (BHE) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Benchmark Electronics Inc to open at $30.07, and during the day (based on 14 day Average True Range), to move between $29.55 and $31.03, which gives a possible trading interval of +/-$0.738 (+/-2.44%) up or down from last closing price. If Benchmark Electronics Inc takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.33 (0.13%) than the support at $30.21 (0.26%), 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 Benchmark Electronics Inc stock A Buy?
Benchmark Electronics Inc 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.
Current score: -0.957 Hold/Accumulate Unchanged
Predicted Opening Price for Benchmark Electronics Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $30.07 ( 0.737%) | $30.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BHE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.94 | 2.13 % | |
| R2 | 30.60 | 1.04 % | ||
| R1 | 30.40 | 0.360 % | ||
| Current price: | 30.29 | |||
| Support | S1 | 29.73 | -1.83 % | |
| S2 | 29.53 | -2.51 % | ||
| S3 | 29.20 | -3.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.49 | 3.96 % | |
| R2 | 30.55 | 0.86 % | ||
| R1 | 30.33 | 0.132 % | ||
| Current price | 30.29 | |||
| Support | S1 | 30.21 | -0.264% | |
| S2 | 29.73 | -1.85% | ||
| S3 | 29.50 | -2.61% |
BHE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.165 | 0.559% |
| 2 | Dec 13, 2023 | Dec 28, 2023 | Jan 12, 2024 | $0.165 | 0.617% |
| 3 | Sep 11, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.170 | 0.716% |
| 4 | Jun 12, 2023 | Jun 29, 2023 | Jul 13, 2023 | $0.165 | 0.615% |
| 5 | Mar 13, 2023 | Mar 30, 2023 | Apr 13, 2023 | $0.165 | 0.719% |
FAQ
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