ASX Price Prediction Next Week
Technical Analysis Based on recent price action, ASX stock shows a bearish trend in the short term, declining from $11.24 to $10.87 last week. The stock has formed lower highs and lower lows, indicating selling pressure.
News Sentiment Analysis Recent news indicates mixed sentiment:
- Positive: ASX futures showed strength with a 1% gain, suggesting potential upside momentum
- Negative: ASX is facing competition from TSMC in semiconductor assembly services
Price Prediction for Next Week Based on technical indicators and news sentiment:
Target Prices:
- Support level: $10.50
- Resistance level: $11.20
- Most likely range: $10.70-$11.00
The stock is likely to consolidate between $10.70-$11.00 next week with downside bias due to:
- Bearish momentum from last week's decline
- Technical indicators showing oversold conditions
- Competitive pressures in semiconductor sector
Trading Recommendation: SELL
- Entry: Current price ($10.87)
- Target: $10.50
- Stop loss: $11.30
The recommendation is based on:
- Bearish technical setup with lower highs/lows
- Increased competitive pressure from TSMC
- Overall market uncertainty affecting semiconductor stocks
ASX Similar Chart Price Prediction
The price of ASX is predicted to go up -23.97%, based on the high correlation periods with OVV. The similarity of these two price pattern on the periods is 92.27%.
ASX
OVV
Down: -23.97%Similarity: 92.27%
ASX Revenue Forecast
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ASX Analyst's Forecast
Sunny Lin
UBS
Hold → Strong Buy
2024-10-15
Price Target
n/a
Downside
0%
UBS analyst Sunny Lin upgraded ASE Technology to Buy from Neutral with a price target of NT$0.00, down from NT$170. The company's advanced packaging business should structurally lift its growth and valuation, the analyst tells investors in a research note.
