Should You Buy ASE Technology Holding Co Ltd (ASX) Today? Analysis, Price Targets, and 2026 Outlook.
Conclusion
Buy
Latest Price
20.260
1 Day change
0.95%
52 Week Range
20.490
Analysis Updated At
2026/01/28
Buy for a long-term beginner portfolio, even at today’s pre-market levels. The stock is in a strong uptrend (bullish moving averages and expanding positive MACD) and fundamentals are improving (2025/Q3 double-digit revenue growth and stronger profitability). Options positioning is strongly bullish (very low put/call ratios), and Wall Street sentiment has recently improved via multiple upgrades/target raises tied to advanced packaging growth. The main near-term drawback is that ASX looks overbought (RSI very high), so you may see a short-term dip—but given you’re impatient and long-term oriented, it’s still a good buy now rather than waiting for an “ideal” pullback.
Technical Analysis
Trend is bullish: SMA_5 > SMA_20 > SMA_200 confirms an established uptrend. Momentum is strengthening: MACD histogram is positive (0.0967) and expanding. However, RSI_6 is 85.60, indicating the stock is short-term overbought/extended, which raises the odds of a brief pullback or consolidation. Key levels: Pivot 19.289; support S1 18.645 (then 18.247). Resistance R1 19.933 and R2 20.331; pre-market is ~20.39, slightly above R2, suggesting a breakout/extension zone. Pattern-based forward view provided: 60% chance of -1.64% next day, +4.38% next week, +3.41% next month.
Intellectia Proprietary Trading Signals:
- [AI Stock Picker](module://ai_stock_pick): No signal on given stock today.
- [SwingMax](module://swingmax): No signal on given stock today.
Options Data
Bullish
Open Interest Put-Call Ratio
Bullish
Option Volume Put-Call Ratio
Options sentiment skews strongly bullish: open interest put/call ratio at 0.16 and volume put/call ratio at 0.08 indicate calls dominate both positioning and trading activity. Today’s volume (581) is elevated vs the 30-day average (31.39x), suggesting heightened attention. Implied volatility (30D IV 46.42) is below historical volatility (54.71), while IV percentile is high (80.4), implying options are relatively expensive versus much of the past year, but still consistent with a market expecting continued movement. Overall takeaway: options market is leaning bullish and actively positioned for upside.
Technical Summary
Sell
4
Buy
10
Positive Catalysts
1) Advanced packaging growth narrative: analysts explicitly cite rapid growth in advanced packaging/on-substrate demand (including AI/GPU supply chain exposure) as a driver. 2) Improving operating performance: 2025/Q3 showed accelerating profitability (net income and EPS up faster than revenue) and higher gross margin. 3) Wall Street sentiment has improved recently with multiple upgrades/price target increases. 4) Upcoming earnings catalyst: next earnings scheduled 2026-02-16 (pre-market), which can re-rate the stock if guidance stays strong.
Neutral/Negative Catalysts
1) Short-term technical stretch: RSI is very overbought and price is trading around/above the stated R2 level, increasing the odds of a near-term dip. 2) Positioning risk: elevated IV percentile suggests options are pricing in larger moves; disappointment into earnings could cause sharper swings. 3) Flows: hedge funds are net sellers (selling amount up 237.38% over the last quarter), which can be a headwind. 4) No supportive near-term news flow listed in the last week, so momentum is more technical/positioning-driven than headline-driven right now.
Financial Performance
Latest reported quarter: 2025/Q3. Revenue rose to 5,632,689,332.89 (+13.51% YoY). Net income increased to 363,210,514.08 (+20.41% YoY), indicating improving operating leverage. EPS increased to 0.08 (+14.29% YoY). Gross margin improved to 17.13 (+3.76% YoY). Overall: healthy top-line growth with faster bottom-line growth and improving margins—supportive of a long-term buy thesis.
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Recent trend is improving: Nomura (2025-10-30) upgraded to Buy with higher PT; BofA (2025-12-03) reiterated Buy and raised PT meaningfully, highlighting advanced packaging growth; Goldman Sachs (2026-01-08) upgraded from Sell to Neutral (a sentiment improvement even if not outright bullish). Wall Street pros: strong AI/advanced packaging demand outlook and share gains narrative, plus improving utilization/margins. Cons: Goldman is only at Neutral and hedge funds have been selling, suggesting some skepticism/position trimming despite the broader positive revisions. Politician/congress activity: no recent congress trading data available in the last 90 days; insiders are neutral with no significant recent trend.
Wall Street analysts forecast ASX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASX is 24.35 USD with a low forecast of 17 USD and a high forecast of 36.75 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
Wall Street analysts forecast ASX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASX is 24.35 USD with a low forecast of 17 USD and a high forecast of 36.75 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 20.070
Low
17
Averages
24.35
High
36.75
Current: 20.070
Low
17
Averages
24.35
High
36.75
Goldman Sachs
Julian Braganza
Sell -> Neutral
upgrade
$57
AI Analysis
2026-01-08
Reason
Goldman Sachs
Julian Braganza
Price Target
$57
AI Analysis
2026-01-08
upgrade
Sell -> Neutral
Reason
Goldman Sachs analyst Julian Braganza upgraded ASX to Neutral from Sell with a A$57 price target. The firm says the company's activity and pricing are supporting its revenue trends.
BofA
Mike Yang
Buy
maintain
2025-12-03
Reason
BofA
Mike Yang
Price Target
2025-12-03
maintain
Buy
Reason
BofA analyst Mike Yang raised the firm's price target on ASE Technology to NT$250 from NT$190 and keeps a Buy rating on the shares. The firm expects ASE's advanced packaging sales to be on track to grow from $450M in 2024 to $1.1B in 2025 and reach $2.1B in 2026 as it gains share in the on-substrate business for Nvidia's Blackwell GPU. Supplemented by a modest utilization recovery in mature packaging close to 80%, the packaging sales could grow 21% year-over-year in 2026, the analyst tells investors in a research note.
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