STMicroelectronics NV Stock Forecast
STMicroelectronics NV stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The STMicroelectronics NV stock price fell by -2.29% on the last day (Friday, 28th Jun 2024) from £56.80 to £55.50. During the last trading day the stock fluctuated 4.91% from a day low at £54.00 to a day high of £56.65. The price has fallen in 4 of the last 10 days and is down by -3.48% for this period. Volume has increased on the last day by 26 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 26 thousand shares were bought and sold for approximately £1.45 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £55.02 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect STMicroelectronics NV stock with a 90% probability to be traded between £54.12 and £58.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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STM.L Signals & Forecast
There are few to no technical positive signals at the moment. The STMicroelectronics NV stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at £55.96 and £57.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -7.19%. 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). STMicroelectronics NV gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for STMicroelectronics NV stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £2.65 between high and low, or 4.91%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: £52.71 (-5.02%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (STM.L) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect STMicroelectronics NV to open at £55.38, and during the day (based on 14 day Average True Range), to move between £54.23 and £56.77, which gives a possible trading interval of +/-£1.27 (+/-2.28%) up or down from last closing price. If STMicroelectronics NV takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £55.60, some £0.100 (0.18%) from the current price of £55.50, our system finds the risk reward not very attractive.
Is STMicroelectronics NV stock A Buy?
STMicroelectronics NV holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for STMicroelectronics NV of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £55.38 ( 0.210%) | £55.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STM.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.03 | 4.56% |
| R2 | 57.02 | 2.74% |
| R1 | 56.40 | 1.61% |
| Price | 55.50 | |
| S1 | 54.37 | -2.03% |
| S2 | 53.75 | -3.16% |
| S3 | 52.73 | -4.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.50 | 3.60% |
| R2 | 56.85 | 2.43% |
| R1 | 55.60 | 0.180% |
| Price | 55.50 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
STM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 2023 | Aug 31, 2023 | Sep 19, 2023 | £0.600 | 1.00% |
| 2 | Sep 14, 2022 | Oct 20, 2022 | Nov 16, 2022 | £0.600 | 2.07% |
| 3 | Jun 08, 2022 | Jun 30, 2022 | Aug 19, 2022 | £0.90 | 3.60% |
| 4 | Sep 14, 2021 | Oct 21, 2021 | Nov 17, 2021 | £0.600 | 1.74% |
| 5 | May 11, 2021 | May 27, 2021 | Jun 30, 2021 | £0.85 | 2.54% |
FAQ
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