KLAC - KLA-Tencor Corporation Tue 24'th Jan 2017
Strong Buy Candidate
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-18
KLA-Tencor Corporation Stock Analysis
KLA-Tencor Corporation gained 0.85% in the last trading day, rising from USD 82.10 to USD 82.80. , and 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. The price has risen in 6 of the last 10 days days and is up by 4.03% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 0.11 million more shares were traded than the day before. In total, 1.14 million shares bought and sold for approximately USD 93.99 million.
KLA-Tencor Corporation lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.2% during the next 3 months and, with 90% probability hold a price between USD 84.88 and USD 93.19 at the end of this period.
Only positive signals in the chart today. KLA-Tencor Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 81.53 and USD 79.33. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 17, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
KLA-Tencor Corporation finds support from accumulated volume at USD 81.83, USD 78.19, and USD 75.93. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 83.04.
The stock is about to test the resistance at USD 83.04. If this level is broken the stock may move faster and we often see a peak at the end of such a break, posing a good sales opportunity as in 90% of the cases you will get a reaction back to the level broken before new gains. A break should be followed by increasing volume else the break may be false and despite a break of the actual resistance level the stock falls back fairly soon.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved USD 1.17 (1.43%) between high and low. For the last week, the stock has had a daily average volatility of 1.99%.
Our recommended stoploss: USD 77.41 (-6.51%) ( criteria: risk and closeness to support from trendline.)
KLA-Tencor Corporation holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months.