Today’s Featured Stock
Valued at $89.74 billion, ASE Technology (ASX) is a provider of semiconductor manufacturing services in assembly and testing. The company develops and offers complete turnkey solutions covering front-end engineering testing, wafer probing, and final testing as well as IC packaging, materials, and electronic manufacturing services.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction, Weighted Alpha above 50+ and a 60-Month Beta over 1.5. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. ASX checks those boxes. The Trend Seeker issued a new “Buy” signal on May 22. Since then, the stock has gained 16.78%.
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Barchart’s Technical Indicators for ASE Technology
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
ASE Technology scored an all-time high of $45.51 on July 1.
ASE Technology has a Weighted Alpha of +282.70. ASX has a 100% “Buy” opinion from Barchart. The stock has gained 287.33% over the past 52 weeks. ASE Technology has its Trend Seeker “Buy” signal intact. The stock recently traded at $39.86 with a 50-day moving average of $38. ASX has made 5 new highs and gained 9.55% over the past month. 60-month beta of 1.69. Relative Strength Index (RSI) is at 49.70. There’s a technical support level around $39.19.Don’t Forget the Fundamentals
$89.74 billion market capitalization. 59.65x trailing price-earnings ratio. Revenue is projected to grow 22.81% this year and another 21.14% next year. Earnings are estimated to increase 89.23% this year and an additional 84.34% next year.Analyst and Investor Sentiment on ASE Technology
The Wall Street analysts followed by Barchart give the stock 5 “Strong Buy” opinions with price targets between $43 and $48. Value Line does not rate ADRs. CFRA’s MarketScope rates the stock a “Hold.” Morningstar thinks the stock is 50% overvalued with a fair value of $26.82. 20,380 investors are following the stock on Seeking Alpha, which rates it a “Strong Buy.” Short interest is 0.82% of the float with 1.37 days to cover the float.The Bottom Line on ASE Technology
The company had increases in revenue, earnings, and cash flow last year, and analysts are predicting similar increase this year and the next.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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