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Is a Correction Looming Ahead for ASE Technology Holding Co. Ltd. (ASX)

ASE Technology Holding Co. Ltd. (NYSE:ASX) went up by 2.76% from its latest closing price compared to the recent 1-year high of $7.81. The company’s stock price has collected 5.53% of gains in the last five trading sessions.

Is It Worth Investing in ASE Technology Holding Co. Ltd. (NYSE :ASX) Right Now?

ASE Technology Holding Co. Ltd. (NYSE:ASX) scored a price-to-earnings ratio above its average ratio, recording 6.36 x from its present earnings ratio. Plus, the 36-month beta value for ASX is at 1.23. Opinions of the stock are interesting as 10 analysts out of 20 who provided ratings for ASE Technology Holding Co. Ltd. declared the stock was a “buy,” while 3 rated the stock as “overweight,” 7 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $9.10, which is -$1.22 below the current price. ASX currently public float of 1.51B and currently shorts hold a 0.35% ratio of that float. Today, the average trading volume of ASX was 7.46M shares.

ASX’s Market Performance

ASX stocks went up by 5.53% for the week, with a monthly jump of 18.28% and a quarterly performance of 52.15%, while its annual performance rate touched -0.53%. The volatility ratio for the week stands at 2.00% while the volatility levels for the past 30 days are set at 2.16% for ASE Technology Holding Co. Ltd. The simple moving average for the period of the last 20 days is 11.45% for ASX stocks with a simple moving average of 22.22% for the last 200 days.

Analysts’ Opinion of ASX

Many brokerage firms have already submitted their reports for ASX stocks, with Goldman repeating the rating for ASX by listing it as a “Neutral.” The predicted price for ASX in the upcoming period, according to Goldman is $8.10 based on the research report published on October 07th of the previous year 2021.

ASX Trading at 14.15% from the 50-Day Moving Average

After a stumble in the market that brought ASX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.74% of loss for the given period.

Volatility was left at 2.16%, however, over the last 30 days, the volatility rate increased by 2.00%, as shares surge +14.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +32.86% upper at present.

During the last 5 trading sessions, ASX rose by +5.53%, which changed the moving average for the period of 200-days by +7.05% in comparison to the 20-day moving average, which settled at $6.72. In addition, ASE Technology Holding Co. Ltd. saw 18.66% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for ASX

Equity return is now at value 29.20, with 11.00 for asset returns.

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