UNITIL Corporation Stock Forecast
UNITIL Corporation stock price up 0.477% on Friday
(Updated on May 03, 2024)
The UNITIL Corporation stock price gained 0.477% on the last trading day (Friday, 3rd May 2024), rising from $52.38 to $52.63. During the last trading day the stock fluctuated 2.08% from a day low at $52.02 to a day high of $53.10. The price has risen in 6 of the last 10 days and is up by 4.86% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 33 thousand shares were bought and sold for approximately $1.74 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 lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $53.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.11% during the next 3 months and, with a 90% probability hold a price between $49.63 and $54.54 at the end of this 3-month period.
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UTL Signals & Forecast
The UNITIL Corporation 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 $51.35 and $50.68. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -0.227%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Wednesday, May 01, 2024 and based on theory for this formation the price should fall by -9.50% to $47.63 within 38 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for UNITIL Corporation stock
UNITIL Corporation finds support from accumulated volume at $50.92 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 $1.08 (2.08%) between high and low. For the last week, the stock has had daily average volatility of 2.90%.
The UNITIL Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $51.02 (-3.06%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (UTL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect UNITIL Corporation to open at $52.58, and during the day (based on 14 day Average True Range), to move between $51.39 and $53.87, which gives a possible trading interval of +/-$1.24 (+/-2.36%) up or down from last closing price. If UNITIL Corporation takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.70 (0.13%) than the support at $50.92 (3.25%), 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.
Earnings coming up
UNITIL Corporation will release earnings BMO on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.58. We will update the financials statements for UNITIL Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.39% in the first trading day after earnings release.
Is UNITIL Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for UNITIL Corporation stock to perform well in the short-term.
Current score: 2.515 Buy Candidate Unchanged
Predicted Opening Price for UNITIL Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $52.58 ( 0.0887%) | $52.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.66 | 1.96 % | |
| R2 | 53.25 | 1.18 % | ||
| R1 | 53.00 | 0.695 % | ||
| Current price: | 52.63 | |||
| Support | S1 | 52.17 | -0.87 % | |
| S2 | 51.92 | -1.36 % | ||
| S3 | 51.50 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 52.75 | 0.228 % | ||
| R1 | 52.70 | 0.133 % | ||
| Current price | 52.63 | |||
| Support | S1 | 50.92 | -3.25% | |
| S2 | 50.75 | -3.57% | ||
| S3 | 47.74 | -9.29% |
UTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2024 | Feb 13, 2024 | Feb 29, 2024 | $0.425 | 0.83% |
| 2 | Oct 23, 2023 | Nov 13, 2023 | Nov 28, 2023 | $0.410 | 0.84% |
| 3 | Jul 26, 2023 | Aug 11, 2023 | Aug 28, 2023 | $0.405 | 0.85% |
| 4 | Apr 26, 2023 | May 15, 2023 | May 30, 2023 | $0.405 | 0.776% |
| 5 | Jan 25, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.405 | 0.746% |
FAQ
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