Green day on Friday for ChipMOS TECHNOLOGIES (Bermuda) LTD. stock after gaining 2.87%
(Updated on Oct 15, 2021)
Sell candidate since 2021-09-29 Loss -5.36% PDF
The ChipMOS TECHNOLOGIES (Bermuda) LTD. stock price gained 2.87% on the last trading day (Friday, 15th Oct 2021), rising from $31.39 to $32.29. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 1.25% from a day low at $32.06 to a day high of $32.46. The price has been going up and down for this period, and there has been a -3.7% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 thousand more shares were traded than the day before. In total, 42 thousand shares were bought and sold for approximately $1.36 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $30.57 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.13% during the next 3 months and, with a 90% probability hold a price between $26.86 and $36.72 at the end of this 3-month period.
Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, October 13, 2021, and so far it has risen 5.01%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ChipMOS TECHNOLOGIES (Bermuda) LTD. stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $37.24. On a fall, the stock will find some support from the short-term average at $31.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss
ChipMOS TECHNOLOGIES (Bermuda) LTD. finds support from accumulated volume at $32.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.40 between high and low, or 1.25%. For the last week, the stock has had a daily average volatility of 1.86%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is ChipMOS TECHNOLOGIES (Bermuda) LTD. stock A Buy?
ChipMOS TECHNOLOGIES (Bermuda) LTD. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.070
Predicted Opening Price for ChipMOS TECHNOLOGIES (Bermuda) LTD. of Monday, October 18, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price October 18, 2021||Current price|
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