On Tuesday SiTime Corporation stock price gained impressive 7.38%
(Updated on May 17, 2022)

The SiTime Corporation stock price gained 7.38% on the last trading day (Tuesday, 17th May 2022), rising from $184.75 to $198.38. During the day the stock fluctuated 4.62% from a day low at $190.20 to a day high of $198.98. The price has risen in 6 of the last 10 days and is up by 8.2% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 185 thousand shares were bought and sold for approximately $36.72 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 very 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 -9.78% during the next 3 months and, with a 90% probability hold a price between $145.03 and $226.10 at the end of this 3-month period.

Signals & Forecast

Mostly positive signals in the chart today. The SiTime 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 $179.04 and $192.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 22.03%. 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 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.

Support, Risk & Stop-loss

SiTime Corporation finds support from accumulated volume at $194.85 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 $8.78 between high and low, or 4.62%. For the last week, the stock has had a daily average volatility of 8.72%.

Our recommended stop-loss: $191.83 (-3.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations For The Upcoming Trading Day Of Wednesday 18th

For the upcoming trading day on Wednesday 18th we expect SiTime Corporation to open at $195.85, and during day (based on 14 day Average True Range), to move between $182.95 and $213.81, which gives a possible trading interval of +/-$15.43 (+/-7.78%) up or down from last closing price. If SiTime Corporation takes out the full calculated possible swing range there will be an estimated 15.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $194.85 (1.78%) than the resistance at $238.82 (20.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SiTime 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.501

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