EMCORE Corporation Stock Forecast
Red day on Thursday for EMCORE Corporation stock after losing 4.75%
(Updated on Mar 28, 2024)
The EMCORE Corporation stock price fell by -4.75% on the last day (Thursday, 28th Mar 2024) from $0.362 to $0.345. During the last trading day the stock fluctuated 7.25% from a day low at $0.345 to a day high of $0.370. The price has fallen in 5 of the last 10 days and is down by -9.21% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -198 thousand shares and in total, 438 thousand shares were bought and sold for approximately $151.13 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -28.50% during the next 3 months and, with a 90% probability hold a price between $0.181 and $0.372 at the end of this 3-month period.
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EMKR Signals & Forecast
There are few to no technical positive signals at the moment. The EMCORE Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.369 and $0.405. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 20, 2024, and so far it has fallen -22.99%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for EMCORE Corporation stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0250 between high and low, or 7.25%. For the last week the stock has had daily average volatility of 8.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EMKR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect EMCORE Corporation to open at $0.353, and during the day (based on 14 day Average True Range), to move between $0.310 and $0.380, which gives a possible trading interval of +/-$0.0347 (+/-10.05%) up or down from last closing price. If EMCORE Corporation takes out the full calculated possible swing range there will be an estimated 20.10% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.362, some $0.0170 (4.93%) from the current price of $0.345, our system finds the risk reward not very attractive.
Is EMCORE Corporation stock A Buy?
EMCORE Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.433 Sell Candidate Unchanged
Predicted Opening Price for EMCORE Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$0.353 ( 2.42%) | $0.345 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMKR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.378 | 9.66 % | |
R2 | 0.369 | 6.89 % | ||
R1 | 0.363 | 5.18 % | ||
Current price: | 0.345 | |||
Support | S1 | 0.344 | -0.353 % | |
S2 | 0.338 | -2.06 % | ||
S3 | 0.328 | -4.83 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.425 | 23.19 % | |
R2 | 0.382 | 10.72 % | ||
R1 | 0.362 | 4.93 % | ||
Current price | 0.345 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
EMKR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 06, 2016 | Aug 01, 2016 | Jul 29, 2016 | $1.50 | 23.15% |
2 | Jul 14, 2016 | Jul 14, 2016 | Jul 29, 2016 | $1.50 | 23.15% |
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