STMicroelectronics NV Stock Forecast
Evaluation of STMicroelectronics NV stock downgraded after the last trading session.
(Updated on May 15, 2024)
The STMicroelectronics NV stock price gained 2.41% on the last trading day (Wednesday, 15th May 2024), rising from $41.84 to $42.85. It has now gained 4 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 2.66% from a day low at $41.79 to a day high of $42.90. The price has risen in 8 of the last 10 days and is up by 10.58% 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, 47 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $140.02 million.
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 $43.19 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 -14.54% during the next 3 months and, with a 90% probability hold a price between $31.13 and $36.91 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.
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STM Signals & Forecast
The STMicroelectronics NV 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 $41.01 and $41.19. 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 11.01%. 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 STMicroelectronics NV stock
STMicroelectronics NV finds support from accumulated volume at $42.14 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 $1.11 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $40.48 (-5.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (STM) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect STMicroelectronics NV to open at $42.51, and during the day (based on 14 day Average True Range), to move between $41.87 and $43.83, which gives a possible trading interval of +/-$0.98 (+/-2.29%) up or down from last closing price. If STMicroelectronics NV takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $42.14 (1.66%) than the resistance at $44.85 (4.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is STMicroelectronics NV stock A Buy?
STMicroelectronics NV holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| $42.51 ( 0.786%) | $42.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.62 | 1.80 % | |
| R2 | 43.20 | 0.82 % | ||
| R1 | 42.94 | 0.204 % | ||
| Current price: | 42.85 | |||
| Support | S1 | 42.09 | -1.78 % | |
| S2 | 41.83 | -2.39 % | ||
| S3 | 41.40 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.50 | 10.85 % | |
| R2 | 46.95 | 9.57 % | ||
| R1 | 44.85 | 4.67 % | ||
| Current price | 42.85 | |||
| Support | S1 | 42.14 | -1.66% | |
| S2 | 41.95 | -2.10% | ||
| S3 | 40.33 | -5.88% |
STM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Jun 25, 2024 | Jul 02, 2024 | $0.0900 | 0.210% |
| 2 | Mar 23, 2023 | Mar 18, 2024 | Mar 26, 2024 | $0.0600 | 0.139% |
| 3 | Mar 23, 2023 | Dec 11, 2023 | Dec 19, 2023 | $0.0600 | 0.119% |
| 4 | Mar 23, 2023 | Sep 18, 2023 | Sep 26, 2023 | $0.0600 | 0.144% |
| 5 | Mar 23, 2023 | Jun 26, 2023 | Jul 05, 2023 | $0.0600 | 0.122% |
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