High volatility in Upstart Holdings Inc stock price on Tuesday which ended trading at $320.77StockInvest.us, 3 weeks ago
The Upstart Holdings Inc stock price gained 9.30% on the last trading day (Tuesday, 21st Sep 2021), rising from $293.47 to $320.77. During the day the stock fluctuated 11.90% from a day low at $294.42 to a day high of $329.47. The price has risen in 7 of the last 10 days and is up by 22.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $2.82 billion.
On September 20, 2021 "Citigroup" gave "$350.00" rating for UPST. The price target was changed from $287.22 to 5.3%.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $314.98, a level that may pose a second chance to hit a runner. According to fan-theory $367.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. The Upstart Holdings Inc 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 $290.99 and $220.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, September 14, 2021, and so far it has risen 19.23%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $303.32 and $289.60.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Upstart Holdings Inc finds support just below today's level at $303.32. If this is broken, then the next support from accumulated volume will be at $289.60 and $274.33.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $35.05 between high and low, or 11.90%. For the last week, the stock has had a daily average volatility of 7.31%.
The Upstart Holdings Inc stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Upstart Holdings Inc holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.Check full Upstart Holdings Inc forecast and analysis here.