KLA Corporation Stock Forecast
Green day on Friday for KLA Corporation stock after gaining 0.793%
(Updated on Mar 31, 2023)
The KLA Corporation stock price gained 0.793% on the last trading day (Friday, 31st Mar 2023), rising from $396.03 to $399.17. It 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 last trading day the stock fluctuated 1.78% from a day low at $392.89 to a day high of $399.88. The price has been going up and down for this period, and there has been a 2.95% gain 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, 72 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $421.17 million.
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The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $403.19 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.92% during the next 3 months and, with a 90% probability hold a price between $328.60 and $371.26 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.
KLAC Signals & Forecast
Mostly positive signals in the chart today. The KLA Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $384.18 and $383.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 13, 2023, and so far it has risen 9.42%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for KLA Corporation stock
KLA Corporation finds support from accumulated volume at $387.75 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 $7.00 (1.78%) between high and low. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: $381.01 (-4.55%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (KLAC) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect KLA Corporation to open at $397.31, and during the day (based on 14 day Average True Range), to move between $386.09 and $412.25, which gives a possible trading interval of +/-$13.08 (+/-3.28%) up or down from last closing price. If KLA Corporation takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $399.37 (0.05%) than the support at $387.75 (2.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is KLA Corporation 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.
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Buy Candidate UnchangedPredicted Opening Price for KLA Corporation of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $397.31 | $399.17 (Overvalued) |
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Trading levels for KLAC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 404.31 | 1.29 % | |
| R2 | 401.63 | 0.617 % | ||
| R1 | 399.98 | 0.204 % | ||
| Current price: | 399.17 | |||
| Support | S1 | 394.64 | -1.13 % | |
| S2 | 392.99 | -1.55 % | ||
| S3 | 390.32 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 409.77 | 2.66 % | |
| R2 | 408.33 | 2.29 % | ||
| R1 | 399.37 | 0.0501 % | ||
| Current price | 399.17 | |||
| Support | S1 | 387.75 | -2.86% | |
| S2 | 387.68 | -2.88% | ||
| S3 | 378.34 | -5.22% |
FAQ
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About KLA Corporation
KLA Corporation designs, manufactures, and markets process control and yield management solutions for the semiconductor and related nanoelectronics industries worldwide. The company offers chip and wafer manufacturing products, including defect inspection and review systems, metrology solutions, in situ process monitoring products, computational lithography software, and data analytics systems for chip manufacturers to manage yield throughout the... KLAC Profile
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