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EMCORE Corporation Stock Forecast NASDAQ:EMKR

$6.60 (-1.20%)

Volume: 357k

Closed: Dec 03, 2021

Hollow Logo Score: -3.796

EMCORE Corporation Stock Forecast

$6.60 (-1.20%)

Volume: 357k

Closed: Dec 03, 2021

Score Hollow Logo -3.796
Which way will EMKR go? Request
Key Stats
P/E Ratio 11.44
Beta 2.24
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 11 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.

EMCORE Corporation stock price ended on $6.60 on Friday after losing 1.2%
(Updated on Dec 03, 2021)


Sell candidate since 2021-11-26 Loss -14.06%

The EMCORE Corporation stock price fell by -1.20% on the last day (Friday, 3rd Dec 2021) from $6.68 to $6.60. During the day the stock fluctuated 3.79% from a day low at $6.47 to a day high of $6.72. The price has fallen in 7 of the last 10 days and is down by -15.6% 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 -703 thousand shares and in total, 357 thousand shares were bought and sold for approximately $2.35 million.

The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $7.18. A reaction back to this level may hold a second chance to get out before further falls.

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 $7.21 and $7.70. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 12, 2021, and so far it has fallen -23.79%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

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 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 $0.25 between high and low, or 3.79%. For the last week, the stock has had a daily average volatility of 7.35%.

EMCORE Corporation is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is EMCORE Corporation stock A Buy?

The EMCORE Corporation stock holds several negative signals and despite the positive trend, we believe EMCORE Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.796

Predicted Opening Price for EMCORE Corporation of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$6.60 $6.60 (Overvalued)
Sell Candidate Unchanged

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Analyst Ratings

On Aug 05, 2021 "Lake Street Capital" gave "$8.00 - $13.00" rating for EMKR. The price target was set to $9.28+12.6%.

Volatility and Risk
Daily Average Volatility: 7.35 %
Overall Risk: Very High High Medium Low Very Low
Volatility
7.35 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $6.66
Price: $6.60
No Support Found

EMKR Insider Trading Show all Trades

INSIDER POWER

2.193

Last 100 transactions
Buy: 1 217 011 | Sell: 554 915 (Shares)
Date Action Amount Person Type
Sep 30, 2021 Buy 2 707 Domenik Stephen L Common Stock
Aug 26, 2021 Sell 25 000 Minichiello Thomas P. Restricted Stock Units (RSUs)
Aug 26, 2021 Buy 25 000 Minichiello Thomas P. Common Stock
Aug 26, 2021 Sell 8 645 Minichiello Thomas P. Common Stock
Aug 25, 2021 Sell 17 000 Jackson Rex S Common Stock
Show all Insider Trades
INSIDER POWER

2.193

Last 100 transactions
Buy: 1 217 011 | Sell: 554 915 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 6.84 3.64 %
6.75 2.22 %
6.69 1.34 %
Current price: 6.60
Support 6.50 -1.49 %
6.44 -2.37 %
6.35 -3.79 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 7.18 8.79 %
6.68 1.21 %
6.66 0.91 %
Current price 6.60
Support 0 .
0 .
0 .

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About EMCORE Corporation

EMCORE EMCORE Corporation designs and manufactures Indium Phosphide optical chips, components, subsystems, and systems for the broadband and specialty fiber optics market. The company offers optical components, subsystems, and systems for cable television and fiber-to-the-premise networks, as well as products for satellite communications, video transport, and specialty photonics technologies for defense and homeland security applications. It sells its p... Read more

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