Tower Semiconductor Ltd. Stock Forecast
Tower Semiconductor Ltd. stock price ended at $31.15 on Thursday, after losing 1.39%.
(Updated on Apr 18, 2024)
The Tower Semiconductor Ltd. stock price fell by -1.39% on the last day (Thursday, 18th Apr 2024) from $31.59 to $31.15. During the last trading day the stock fluctuated 2.95% from a day low at $30.82 to a day high of $31.73. The price has fallen in 7 of the last 10 days and is down by -5.18% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -93 thousand shares and in total, 502 thousand shares were bought and sold for approximately $15.65 million.
Given the current short-term trend, the stock is expected to rise 11.76% during the next 3 months and, with a 90% probability hold a price between $34.81 and $39.00 at the end of this 3-month period.
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TSEM Signals & Forecast
There are few to no technical positive signals at the moment. The Tower Semiconductor Ltd. 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 $32.04 and $32.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -9.66%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Tower Semiconductor Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $29.33 and $28.68. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Tower Semiconductor Ltd. finds support just below today's level at $29.33. If this is broken, then the next support from accumulated volume will be at $28.68 and $28.63.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.91 (2.95%) between high and low. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TSEM) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Tower Semiconductor Ltd. to open at $31.23, and during the day (based on 14 day Average True Range), to move between $30.11 and $32.19, which gives a possible trading interval of +/-$1.04 (+/-3.33%) up or down from last closing price. If Tower Semiconductor Ltd. takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.88 (2.34%) than the support at $29.33 (5.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Tower Semiconductor Ltd. stock A Buy?
The Tower Semiconductor Ltd. stock holds several negative signals and despite the positive trend, we believe Tower Semiconductor Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.249 Sell Candidate Unchanged
Predicted Opening Price for Tower Semiconductor Ltd. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $31.23 ( 0.268%) | $31.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSEM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.14 | 3.19 % | |
| R2 | 31.80 | 2.07 % | ||
| R1 | 31.58 | 1.38 % | ||
| Current price: | 31.15 | |||
| Support | S1 | 30.89 | -0.85 % | |
| S2 | 30.67 | -1.54 % | ||
| S3 | 30.32 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.29 | 6.87 % | |
| R2 | 32.87 | 5.52 % | ||
| R1 | 31.88 | 2.34 % | ||
| Current price | 31.15 | |||
| Support | S1 | 29.33 | -5.84% | |
| S2 | 28.68 | -7.93% | ||
| S3 | 28.63 | -8.09% |
TSEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 1997 | Sep 24, 1997 | Oct 20, 1997 | $15.00 | 4.76% |
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