United Bankshares Stock Forecast
Green day on Wednesday for United Bankshares
(Updated on May 01, 2024)
The United Bankshares stock price gained 2.50% on the last trading day (Wednesday, 1st May 2024), rising from $32.46 to $33.27. During the last trading day the stock fluctuated 3.17% from a day low at $32.80 to a day high of $33.84. The price has risen in 6 of the last 10 days and is up by 2.15% over the past 2 weeks. Volume fell on the last day by -160 thousand shares and in total, 478 thousand shares were bought and sold for approximately $15.91 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 middle of a 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 -4.46% during the next 3 months and, with a 90% probability hold a price between $30.74 and $33.60 at the end of this 3-month period.
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UBSI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.50%. 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). 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 United Bankshares 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 $33.48 and $33.85. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should go up by 8.66% to $36.15 within 10 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for United Bankshares stock
United Bankshares finds support from accumulated volume at $33.19 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 $1.04 (3.17%) between high and low. For the last week, the stock has had daily average volatility of 3.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UBSI) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect United Bankshares to open at $33.30, and during the day (based on 14 day Average True Range), to move between $32.36 and $34.18, which gives a possible trading interval of +/-$0.91 (+/-2.75%) up or down from last closing price. If United Bankshares takes out the full calculated possible swing range there will be an estimated 5.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.19 (0.24%) than the resistance at $33.50 (0.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United Bankshares stock A Buy?
United Bankshares holds several negative signals and is within a 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: -1.907 Sell Candidate Unchanged
Predicted Opening Price for United Bankshares of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $33.30 ( 0.100%) | $33.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UBSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.34 | 3.23 % | |
| R2 | 33.95 | 2.03 % | ||
| R1 | 33.70 | 1.29 % | ||
| Current price: | 33.27 | |||
| Support | S1 | 32.91 | -1.09 % | |
| S2 | 32.66 | -1.83 % | ||
| S3 | 32.26 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.97 | 5.11 % | |
| R2 | 34.34 | 3.22 % | ||
| R1 | 33.50 | 0.691 % | ||
| Current price | 33.27 | |||
| Support | S1 | 33.19 | -0.240% | |
| S2 | 33.12 | -0.451% | ||
| S3 | 32.46 | -2.43% |
UBSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 07, 2024 | Apr 01, 2024 | $0.370 | 1.05% |
| 2 | Nov 10, 2023 | Dec 07, 2023 | Jan 02, 2024 | $0.370 | 0.98% |
| 3 | Aug 28, 2023 | Sep 07, 2023 | Oct 02, 2023 | $0.360 | 1.32% |
| 4 | May 10, 2023 | Jun 08, 2023 | Jul 03, 2023 | $0.360 | 1.19% |
| 5 | Feb 27, 2023 | Mar 09, 2023 | Apr 03, 2023 | $0.360 | 1.03% |
FAQ
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