Ichor Holdings Stock Forecast
Stronger technical forecast for Ichor Holdings stock price after Friday trading.
(Updated on Apr 26, 2024)
The Ichor Holdings stock price gained 3.15% on the last trading day (Friday, 26th Apr 2024), rising from $38.15 to $39.35. During the last trading day the stock fluctuated 3.83% from a day low at $38.13 to a day high of $39.59. The price has fallen in 5 of the last 10 days but is still up by 1.16% over the past 2 weeks. Volume fell on the last day by -44 thousand shares and in total, 154 thousand shares were bought and sold for approximately $6.08 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 lies in the middle of a 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 -8.23% during the next 3 months and, with a 90% probability hold a price between $32.97 and $38.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ICHR Signals & Forecast
The Ichor Holdings stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $37.60 and $38.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 8.79%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ichor Holdings stock
Ichor Holdings finds support from accumulated volume at $38.90 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 $1.46 (3.83%) between high and low. For the last week, the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: $38.00 (-3.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ICHR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ichor Holdings to open at $39.02, and during the day (based on 14 day Average True Range), to move between $37.80 and $40.90, which gives a possible trading interval of +/-$1.55 (+/-3.95%) up or down from last closing price. If Ichor Holdings takes out the full calculated possible swing range there will be an estimated 7.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $38.90 (1.14%) than the resistance at $41.20 (4.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ichor Holdings stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.686 Buy Candidate Upgraded
Predicted Opening Price for Ichor Holdings of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $39.02 ( 0.83%) | $39.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICHR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.48 | 2.88 % | |
| R2 | 39.93 | 1.46 % | ||
| R1 | 39.58 | 0.587 % | ||
| Current price: | 39.35 | |||
| Support | S1 | 38.47 | -2.25 % | |
| S2 | 38.12 | -3.12 % | ||
| S3 | 37.56 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.48 | 15.58 % | |
| R2 | 43.35 | 10.17 % | ||
| R1 | 41.20 | 4.70 % | ||
| Current price | 39.35 | |||
| Support | S1 | 38.90 | -1.14% | |
| S2 | 36.92 | -6.18% | ||
| S3 | 36.90 | -6.23% |
FAQ
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