Should I Buy ASX? ASX 2026 Analysis

Should You Buy ASE Technology Holding Co Ltd (ASX) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Buy

Latest Price

20.890

1 Day change

3.11%

52 Week Range

21.420

Analysis Updated At

2026/02/04

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Intellectia Proprietary Trading Signals
- AI Stock Picker: No signal on given stock today.
- SwingMax: No signal on given stock recently.
Buy now (pre-market ~19.69): trend structure is still bullish (SMA_5 > SMA_20 > SMA_200) and sentiment from options positioning is strongly call-skewed.
Near-term plan (since you’re unwilling to wait): buying around/above the pivot (19.552) targets a push into 20.25–20.69 resistance zone; failure back below 18.85 would invalidate the immediate setup.
Despite hedge funds selling, the combination of improving fundamentals (Q3 growth) + analyst upgrades/raised targets supports a “buy now” stance rather than waiting.

Technical Analysis

Trend: Bullish moving-average stack (SMA_5 > SMA_20 > SMA_200) suggests the primary trend remains up.
Momentum: MACD histogram -0.101 and negatively expanding = short-term momentum is weakening (risk of chop/pullback even within an uptrend).
RSI: RSI_6 ~52.3 (neutral) = not overbought; still room to move either direction.
Key levels:
- Pivot: 19.552 (pre-market 19.69 is slightly above)
- Resistance: 20.252 (R1) then 20.685 (R2)
- Support: 18.851 (S1) then 18.418 (S2)
Pattern-based odds (provided): modest upside bias (next month +4.83% estimate), but not a high-conviction short-term breakout signal.

Options Data

Bullish

Open Interest Put-Call Ratio

Bullish

Option Volume Put-Call Ratio

Positioning/Sentiment: Very low put/call ratios (OI PCR 0.16, Volume PCR 0.08) = strongly bullish / call-dominant positioning.
Activity: Today’s volume 581 vs 30D avg (given as 31.39) implies unusually elevated options activity.
Volatility: IV 30D 46.42 vs HV 54.71; IV percentile 80.4 suggests options are relatively expensive vs their recent history (market pricing in larger moves).
Open interest: Calls OI 25,823 vs puts OI 4,238 reinforces bullish skew.

Technical Summary

Sell

Buy

Positive Catalysts

- Fundamental growth: 2025/Q3 showed solid YoY expansion in revenue, net income, EPS, and gross margin.
- Analyst support: BofA reiterated Buy and raised target meaningfully, citing advanced packaging ramp and Nvidia Blackwell-related share gains.
- Upcoming event: Earnings on 2026-02-16 (pre-market) can act as a catalyst if advanced packaging/utilization commentary is strong.
- Options sentiment: Strong call-skew can support upside follow-through if price holds above the pivot.

Neutral/Negative Catalysts

- Hedge funds selling: selling increased 237.38% QoQ, a meaningful institutional headwind.
- Short-term momentum deterioration: MACD histogram negative and worsening increases risk of a dip even if the longer trend is up.
- No supportive news flow this week: fewer near-term narrative catalysts outside of the earnings setup.
- No politician/influential buying signal: no recent congress trading data available in the last 90 days (no external confirmation catalyst).

Financial Performance

Latest quarter: 2025/Q3
- Revenue: 5.63B, +13.51% YoY
- Net Income: 363.21M, +20.41% YoY
- EPS: 0.08, +14.29% YoY
- Gross Margin: 17.13%, +3.76% YoY
Read-through: improving profitability (net income and margin up faster than revenue) supports a constructive medium-term trend.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Trend: sentiment has improved recently (one upgrade + one notable price-target raise).
Goldman Sachs (2026-01-08): upgraded to Neutral from Sell; cited activity/pricing supporting revenue trends.
BofA (2025-12-03): maintained Buy and raised target to NT$250 from NT$190; expects advanced packaging sales to scale materially through 2026 with on-substrate share gains (incl. Nvidia Blackwell GPU angle).
Wall Street pros vs cons:
- Pros: advanced packaging growth trajectory, utilization recovery, improving margins.
- Cons: not universally bullish (GS only Neutral) and institutional/hedge-fund flow is currently negative.

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: 20.260

Low

Averages

24.35

High

36.75

Current: 20.260

Low

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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ASX Should I Buy

ASX Should I Buy

Should You Buy ASE Technology Holding Co Ltd (ASX) Today? Analysis, Price Targets, and 2026 Outlook.

Technical Analysis

Options Data

Technical Summary

Positive Catalysts

Neutral/Negative Catalysts

Financial Performance

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

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