United Fire Group Stock Forecast
United Fire Group stock price ended at $22.64 on Friday, after losing 1.26%.
(Updated on May 03, 2024)
The United Fire Group stock price fell by -1.26% on the last day (Friday, 3rd May 2024) from $22.93 to $22.64. During the last trading day the stock fluctuated 1.46% from a day low at $22.56 to a day high of $22.89. The price has fallen in 7 of the last 10 days and is down by -0.7% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 thousand shares and in total, 63 thousand shares were bought and sold for approximately $1.43 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 -3.86% during the next 3 months and, with a 90% probability hold a price between $20.26 and $23.17 at the end of this 3-month period.
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UFCS Signals & Forecast
The United Fire Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $22.41 and $21.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 5.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for United Fire Group stock
United Fire Group finds support from accumulated volume at $22.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.330 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: $21.36 (-5.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (UFCS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect United Fire Group to open at $22.70, and during the day (based on 14 day Average True Range), to move between $22.16 and $23.12, which gives a possible trading interval of +/-$0.482 (+/-2.13%) up or down from last closing price. If United Fire Group takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.09 (2.43%) than the resistance at $24.32 (7.42%), 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
United Fire Group will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.550. We will update the financials statements for United Fire Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.11% in the first trading day after earnings release.
Is United Fire Group stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.480 Buy Candidate Unchanged
Predicted Opening Price for United Fire Group of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $22.70 ( 0.250%) | $22.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UFCS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.03 | 1.71 % | |
| R2 | 22.90 | 1.15 % | ||
| R1 | 22.82 | 0.81 % | ||
| Current price: | 22.64 | |||
| Support | S1 | 22.57 | -0.307 % | |
| S2 | 22.49 | -0.651 % | ||
| S3 | 22.37 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.96 | 10.25 % | |
| R2 | 24.76 | 9.36 % | ||
| R1 | 24.32 | 7.42 % | ||
| Current price | 22.64 | |||
| Support | S1 | 22.09 | -2.43% | |
| S2 | 21.77 | -3.84% | ||
| S3 | 21.43 | -5.34% |
UFCS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.160 | 0.735% |
| 2 | Nov 17, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.160 | 0.82% |
| 3 | Aug 18, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.160 | 0.81% |
| 4 | May 17, 2023 | Jun 01, 2023 | Jun 16, 2023 | $0.160 | 0.694% |
| 5 | Feb 24, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.160 | 0.607% |
FAQ
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