Semtech Corporation Stock Forecast

Semtech Corporation stock price ended at $32.07 on Monday, after gaining 3.29%.
(Updated on Apr 22, 2024)

SMTC Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -8.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Semtech Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $32.29. On a fall, the stock will find some support from the long-term average at approximately $27.48. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 for Semtech Corporation stock

Semtech Corporation finds support from accumulated volume at $31.48 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.75 between high and low, or 5.65%. For the last week, the stock has had daily average volatility of 5.00%.

Our recommended stop-loss: $30.38 (-5.28%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (SMTC) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Semtech Corporation to open at $31.93, and during the day (based on 14 day Average True Range), to move between $30.17 and $33.97, which gives a possible trading interval of +/-$1.90 (+/-5.93%) up or down from last closing price. If Semtech Corporation takes out the full calculated possible swing range there will be an estimated 11.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $31.48 (1.84%) than the resistance at $33.06 (3.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Semtech Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 3.406 Buy Candidate Unchanged

Predicted Opening Price for Semtech Corporation of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.