Ultra Clean Holdings Stock Forecast
Ultra Clean Holdings stock price up 1.86% on Thursday
(Updated on May 02, 2024)
The Ultra Clean Holdings stock price gained 1.86% on the last trading day (Thursday, 2nd May 2024), rising from $40.28 to $41.03. During the last trading day the stock fluctuated 2.48% from a day low at $40.44 to a day high of $41.44. The price has risen in 6 of the last 10 days and is up by 1.31% over the past 2 weeks. Volume fell on the last day by -52 thousand shares and in total, 201 thousand shares were bought and sold for approximately $8.26 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ultra Clean Holdings stock with a 90% probability to be traded between $37.59 and $46.11 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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UCTT Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 6.82%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ultra Clean Holdings stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $41.26 and $43.29. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ultra Clean Holdings stock
Ultra Clean Holdings finds support from accumulated volume at $40.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.00 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 3.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UCTT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Ultra Clean Holdings to open at $40.97, and during the day (based on 14 day Average True Range), to move between $39.38 and $42.68, which gives a possible trading interval of +/-$1.65 (+/-4.03%) up or down from last closing price. If Ultra Clean Holdings takes out the full calculated possible swing range there will be an estimated 8.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.84 (0.46%) than the resistance at $44.41 (8.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ultra Clean Holdings will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.130. We will update the financials statements for Ultra Clean Holdings, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.36% in the first trading day after earnings release.
Is Ultra Clean Holdings stock A Buy?
Ultra Clean Holdings holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.395 Sell Candidate Unchanged
Predicted Opening Price for Ultra Clean Holdings of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $40.97 ( 0.144%) | $41.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UCTT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.97 | 2.30 % | |
| R2 | 41.59 | 1.37 % | ||
| R1 | 41.35 | 0.790 % | ||
| Current price: | 41.03 | |||
| Support | S1 | 40.59 | -1.08 % | |
| S2 | 40.35 | -1.65 % | ||
| S3 | 39.97 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.91 | 9.46 % | |
| R2 | 44.43 | 8.29 % | ||
| R1 | 44.41 | 8.24 % | ||
| Current price | 41.03 | |||
| Support | S1 | 40.84 | -0.463% | |
| S2 | 40.34 | -1.68% | ||
| S3 | 38.99 | -4.97% |
FAQ
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