KLA Corporation Stock Forecast
KLA Corporation stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The KLA Corporation stock price gained 4.95% on the last trading day (Friday, 26th Apr 2024), rising from $672.95 to $706.26. It has now gained 5 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 4.63% from a day low at $678.81 to a day high of $710.26. The price has risen in 6 of the last 10 days and is up by 3.74% 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, 150 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $812.31 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.58% during the next 3 months and, with a 90% probability hold a price between $687.30 and $821.99 at the end of this 3-month period.
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KLAC Signals & Forecast
The KLA Corporation 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 $655.71 and $684.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.43%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 KLA Corporation stock
KLA Corporation finds support from accumulated volume at $683.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $31.46 between high and low, or 4.63%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: $678.57 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (KLAC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect KLA Corporation to open at $698.44, and during the day (based on 14 day Average True Range), to move between $684.55 and $727.97, which gives a possible trading interval of +/-$21.71 (+/-3.07%) up or down from last closing price. If KLA Corporation takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $715.46 (1.30%) than the support at $683.90 (3.17%), 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, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for KLA Corporation 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: 2.583 Buy Candidate Upgraded
Predicted Opening Price for KLA Corporation of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $698.44 ( 1.11%) | $706.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KLAC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 729.90 | 3.35 % | |
| R2 | 717.88 | 1.65 % | ||
| R1 | 710.46 | 0.594 % | ||
| Current price: | 706.26 | |||
| Support | S1 | 686.43 | -2.81 % | |
| S2 | 679.00 | -3.86 % | ||
| S3 | 666.99 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 723.26 | 2.41 % | |
| R2 | 717.57 | 1.60 % | ||
| R1 | 715.46 | 1.30 % | ||
| Current price | 706.26 | |||
| Support | S1 | 683.90 | -3.17% | |
| S2 | 651.77 | -7.72% | ||
| S3 | 641.07 | -9.23% |
KLAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Feb 15, 2024 | Mar 01, 2024 | $1.45 | 0.202% |
| 2 | Nov 02, 2023 | Nov 14, 2023 | Dec 01, 2023 | $1.45 | 0.264% |
| 3 | Aug 03, 2023 | Aug 15, 2023 | Sep 01, 2023 | $1.30 | 0.256% |
| 4 | Aug 03, 2023 | Aug 14, 2023 | Sep 01, 2023 | $1.30 | 0.256% |
| 5 | May 04, 2023 | May 12, 2023 | Jun 01, 2023 | $1.30 | 0.287% |
FAQ
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