Universal Corporation Stock Forecast
Weaker technical forecast for Universal Corporation as stock downgraded to Hold/Accumulate.
(Updated on Apr 22, 2024)
The Universal Corporation stock price fell by -1.50% on the last day (Monday, 22nd Apr 2024) from $51.46 to $50.69. During the last trading day the stock fluctuated 1.87% from a day low at $50.60 to a day high of $51.55. The price has been going up and down for this period, and there has been a 0.14% gain for the last 2 weeks. Volume has increased on the last day by 99 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 236 thousand shares were bought and sold for approximately $11.95 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.80% during the next 3 months and, with a 90% probability hold a price between $37.59 and $46.13 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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UVV Signals & Forecast
The Universal Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $49.93 and $50.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 6.18%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Universal Corporation stock
Universal Corporation finds support from accumulated volume at $50.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.95 (1.87%) between high and low. For the last week, the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: $49.17 (-3.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (UVV) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Universal Corporation to open at $50.95, and during the day (based on 14 day Average True Range), to move between $49.49 and $51.89, which gives a possible trading interval of +/-$1.20 (+/-2.37%) up or down from last closing price. If Universal Corporation takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.73 (0.08%) than the support at $50.62 (0.14%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Universal Corporation stock A Buy?
Universal Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.121 Hold/Accumulate Downgraded
Predicted Opening Price for Universal Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $50.95 ( 0.503%) | $50.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UVV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.89 | 2.37 % | |
| R2 | 51.53 | 1.66 % | ||
| R1 | 51.31 | 1.22 % | ||
| Current price: | 50.69 | |||
| Support | S1 | 50.58 | -0.209 % | |
| S2 | 50.36 | -0.649 % | ||
| S3 | 50.00 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.10 | 0.81 % | |
| R2 | 50.89 | 0.395 % | ||
| R1 | 50.73 | 0.0789 % | ||
| Current price | 50.69 | |||
| Support | S1 | 50.62 | -0.138% | |
| S2 | 50.58 | -0.217% | ||
| S3 | 48.01 | -5.29% |
UVV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | May 06, 2024 | $0.80 | 1.58% |
| 2 | Nov 02, 2023 | Jan 05, 2024 | Feb 05, 2024 | $0.80 | 1.38% |
| 3 | Aug 02, 2023 | Oct 05, 2023 | Nov 06, 2023 | $0.80 | 1.56% |
| 4 | May 24, 2023 | Jul 07, 2023 | Aug 07, 2023 | $0.80 | 1.63% |
| 5 | Feb 01, 2023 | Apr 06, 2023 | May 01, 2023 | $0.790 | 1.45% |
FAQ
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