Advanced Semiconductor Engineering Inc Stock Forecast
Green day on Tuesday for Advanced Semiconductor Engineering Inc
(Updated on Apr 23, 2024)
The Advanced Semiconductor Engineering Inc stock price gained 1.42% on the last trading day (Tuesday, 23rd Apr 2024), rising from $10.18 to $10.33. During the last trading day the stock fluctuated 2.17% from a day low at $10.15 to a day high of $10.37. The price has fallen in 7 of the last 10 days and is down by -7.07% for this period. Volume fell on the last day by -1 million shares and in total, 5 million shares were bought and sold for approximately $48.41 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.52% during the next 3 months and, with a 90% probability hold a price between $11.99 and $15.03 at the end of this 3-month period.
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ASX Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Advanced Semiconductor Engineering Inc 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 $10.44 and $10.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -11.45%. 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).
Support, Risk & Stop-loss for Advanced Semiconductor Engineering Inc stock
Advanced Semiconductor Engineering Inc finds support from accumulated volume at $9.94 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 $0.220 between high and low, or 2.17%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Advanced Semiconductor Engineering Inc to open at $10.28, and during the day (based on 14 day Average True Range), to move between $10.04 and $10.61, which gives a possible trading interval of +/-$0.287 (+/-2.78%) up or down from last closing price. If Advanced Semiconductor Engineering Inc takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.94 (3.73%) than the resistance at $10.98 (6.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Advanced Semiconductor Engineering Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.100. We will update the financials statements for Advanced Semiconductor Engineering Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.00% in the first trading day after earnings release.
Is Advanced Semiconductor Engineering Inc stock A Buy?
The Advanced Semiconductor Engineering Inc stock holds several negative signals and despite the positive trend, we believe Advanced Semiconductor Engineering Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.955 Sell Candidate Unchanged
Predicted Opening Price for Advanced Semiconductor Engineering Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $10.28 ( 0.420%) | $10.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.50 | 1.71 % | |
| R2 | 10.42 | 0.90 % | ||
| R1 | 10.37 | 0.394 % | ||
| Current price: | 10.33 | |||
| Support | S1 | 10.20 | -1.23 % | |
| S2 | 10.15 | -1.74 % | ||
| S3 | 10.06 | -2.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.22 | 8.67 % | |
| R2 | 10.99 | 6.44 % | ||
| R1 | 10.98 | 6.34 % | ||
| Current price | 10.33 | |||
| Support | S1 | 9.94 | -3.73% | |
| S2 | 9.91 | -4.02% | ||
| S3 | 9.63 | -6.73% |
ASX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | Jun 30, 2023 | Aug 03, 2023 | $0.571 | 7.49% |
| 2 | Jun 07, 2022 | Jun 29, 2022 | Aug 04, 2022 | $0.479 | 7.96% |
| 3 | Aug 16, 2021 | Sep 03, 2021 | Aug 04, 2022 | $0.302 | 5.02% |
| 4 | Jul 30, 2020 | Aug 13, 2020 | Sep 17, 2020 | $0.136 | 3.20% |
| 5 | Aug 10, 2018 | Aug 10, 2018 | Aug 10, 2018 | $0.164 | 3.35% |
FAQ
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