EMCORE Corporation Stock Forecast
Volatile ride for EMCORE Corporation stock price on Thursday moving between $2.53 and $2.84
(Updated on May 02, 2024)
The EMCORE Corporation stock price fell by -1.15% on the last day (Thursday, 2nd May 2024) from $2.60 to $2.57. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 12.25% from a day low at $2.53 to a day high of $2.84. The price has fallen in 7 of the last 10 days and is down by -9.82% 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 -18 thousand shares and in total, 154 thousand shares were bought and sold for approximately $396.91 thousand.
The stock lies in the middle of a very wide and strong 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 211.23% during the next 3 months and, with a 90% probability hold a price between $4.92 and $15.00 at the end of this 3-month period.
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EMKR Signals & Forecast
The EMCORE Corporation 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 $2.76. On a fall, the stock will find some support from the long-term average at approximately $2.04. 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. 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 Tuesday, April 02, 2024, and so far it has fallen -29.40%. 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 $0.310 between high and low, or 12.25%. For the last week the stock has had daily average volatility of 8.61%.
Our recommended stop-loss: $2.43 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (EMKR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect EMCORE Corporation to open at $2.65, and during the day (based on 14 day Average True Range), to move between $2.32 and $2.82, which gives a possible trading interval of +/-$0.247 (+/-9.59%) up or down from last closing price. If EMCORE Corporation takes out the full calculated possible swing range there will be an estimated 19.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $2.76, some $0.190 (7.39%) from the current price of $2.57, our system finds the risk reward not very attractive.
Earnings coming up
EMCORE Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.300. We will update the financials statements for EMCORE Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.97% in the first trading day after earnings release.
Is EMCORE Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for EMCORE Corporation stock to perform well in the short-term.
Current score: 1.109 Buy Candidate Unchanged
Predicted Opening Price for EMCORE Corporation of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$2.65 ( 2.98%) | $2.57 |
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 | 2.96 | 15.05 % | |
R2 | 2.84 | 10.44 % | ||
R1 | 2.77 | 7.59 % | ||
Current price: | 2.57 | |||
Support | S1 | 2.53 | -1.62 % | |
S2 | 2.46 | -4.47 % | ||
S3 | 2.34 | -9.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.86 | 11.28 % | |
R2 | 2.85 | 10.89 % | ||
R1 | 2.76 | 7.39 % | ||
Current price | 2.57 | |||
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 | 2.31% |
2 | Jul 14, 2016 | Jul 14, 2016 | Jul 29, 2016 | $1.50 | 2.31% |
FAQ
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