EMCORE Corporation Stock Forecast

Red day on Wednesday for EMCORE Corporation
(Updated on May 01, 2024)

EMKR Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -28.57%. 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). EMCORE Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 $2.80. On a fall, the stock will find some support from the long-term average at approximately $1.98. 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.

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 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 $0.180 between high and low, or 7.06%. For the last week, the stock has had daily average volatility of 7.00%.

Our recommended stop-loss: $2.50 (-3.75%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (EMKR) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect EMCORE Corporation to open at $2.63, and during the day (based on 14 day Average True Range), to move between $2.36 and $2.84, which gives a possible trading interval of +/-$0.242 (+/-9.29%) up or down from last closing price. If EMCORE Corporation takes out the full calculated possible swing range there will be an estimated 18.58% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $2.76, some $0.160 (6.15%) from the current price of $2.60, our system finds the risk reward not very attractive.

Is EMCORE Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.081 Buy Candidate Unchanged

Predicted Opening Price for EMCORE Corporation of Thursday, May 2, 2024

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