Alpha and Omega Semiconductor Limited Stock Forecast
Alpha and Omega Semiconductor Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Alpha and Omega Semiconductor Limited stock price fell by -3.23% on the last day (Wednesday, 17th Apr 2024) from $21.35 to $20.66. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.14% from a day low at $20.63 to a day high of $21.69. The price has fallen in 7 of the last 10 days and is down by -9.47% for this period. Volume has increased on the last day by 12 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, 72 thousand shares were bought and sold for approximately $1.49 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.39% during the next 3 months and, with a 90% probability hold a price between $15.05 and $18.26 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AOSL Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alpha and Omega Semiconductor Limited 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 $21.93 and $22.21. 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 -10.87%. Further fall is indicated until a new bottom pivot has been found. Alpha and Omega Semiconductor Limited 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 Alpha and Omega Semiconductor Limited 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.
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 $1.06 between high and low, or 5.14%. For the last week, the stock has had daily average volatility of 4.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AOSL) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Alpha and Omega Semiconductor Limited to open at $20.99, and during the day (based on 14 day Average True Range), to move between $19.80 and $21.52, which gives a possible trading interval of +/-$0.86 (+/-4.15%) up or down from last closing price. If Alpha and Omega Semiconductor Limited takes out the full calculated possible swing range there will be an estimated 8.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $22.23, some $1.57 (7.60%) from the current price of $20.66, our system finds the risk reward not very attractive.
Is Alpha and Omega Semiconductor Limited stock A Buy?
Alpha and Omega Semiconductor Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.391 Sell Candidate Downgraded
Predicted Opening Price for Alpha and Omega Semiconductor Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $20.99 ( 1.61%) | $20.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AOSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.05 | 6.74 % | |
| R2 | 21.65 | 4.78 % | ||
| R1 | 21.40 | 3.57 % | ||
| Current price: | 20.66 | |||
| Support | S1 | 20.59 | -0.346 % | |
| S2 | 20.34 | -1.56 % | ||
| S3 | 19.93 | -3.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.00 | 11.33 % | |
| R2 | 22.50 | 8.91 % | ||
| R1 | 22.23 | 7.60 % | ||
| Current price | 20.66 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
Click here for our free guide on how to buy Alpha and Omega Semiconductor Limited Stock.
