ChipMOS TECHNOLOGIES (Bermuda) LTD. Stock Forecast
ChipMOS TECHNOLOGIES (Bermuda) LTD. stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The ChipMOS TECHNOLOGIES (Bermuda) LTD. stock price gained 0.546% on the last trading day (Monday, 17th Jun 2024), rising from $27.48 to $27.63. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.77% from a day low at $27.19 to a day high of $27.67. The price has risen in 8 of the last 10 days and is up by 2.49% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $386.65 thousand.
Given the current short-term trend, the stock is expected to fall -15.64% during the next 3 months and, with a 90% probability hold a price between $21.18 and $23.31 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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IMOS Signals & Forecast
Mostly positive signals in the chart today. The ChipMOS TECHNOLOGIES (Bermuda) LTD. 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 $26.86 and $27.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 7.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). ChipMOS TECHNOLOGIES (Bermuda) LTD. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for ChipMOS TECHNOLOGIES (Bermuda) LTD. stock
ChipMOS TECHNOLOGIES (Bermuda) LTD. finds support from accumulated volume at $27.60 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 $0.480 (1.77%) between high and low. For the last week, the stock has had daily average volatility of 1.45%.
Since the ChipMOS TECHNOLOGIES (Bermuda) LTD. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $26.10 (-5.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (IMOS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect ChipMOS TECHNOLOGIES (Bermuda) LTD. to open at $27.50, and during the day (based on 14 day Average True Range), to move between $26.99 and $28.27, which gives a possible trading interval of +/-$0.644 (+/-2.33%) up or down from last closing price. If ChipMOS TECHNOLOGIES (Bermuda) LTD. takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.60 (0.11%) than the resistance at $30.24 (9.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ChipMOS TECHNOLOGIES (Bermuda) LTD. 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: 2.411 Buy Candidate Upgraded
Predicted Opening Price for ChipMOS TECHNOLOGIES (Bermuda) LTD. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $27.50 ( 0.483%) | $27.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMOS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.98 | 1.25% |
| R2 | 27.79 | 0.591% |
| R1 | 27.68 | 0.181% |
| Price | 27.63 | |
| S1 | 27.31 | -1.15% |
| S2 | 27.20 | -1.56% |
| S3 | 27.02 | -2.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.09 | 16.14% |
| R2 | 30.64 | 10.89% |
| R1 | 30.24 | 9.45% |
| Price | 27.63 | |
| S1 | 27.60 | -0.109% |
| S2 | 25.96 | -6.04% |
| S3 | 25.74 | -6.84% |
IMOS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Aug 05, 2024 | $0.86 | 3.11% |
| 2 | May 30, 2023 | Jun 29, 2023 | Jul 27, 2023 | $1.50 | 6.63% |
| 3 | May 31, 2022 | Jun 29, 2022 | Jul 27, 2022 | $2.92 | 12.22% |
| 4 | Jul 21, 2021 | Aug 06, 2021 | Sep 08, 2021 | $1.57 | 4.03% |
| 5 | Jan 01, 1900 | Jul 01, 2020 | Jan 01, 1900 | $1.21 | 0% |
FAQ
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