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High volatility in Upstart Holdings Inc stock price on Wednesday which ended trading at $156.94

StockInvest.us, 2 months ago

StockInvest.us

The Upstart Holdings Inc stock price gained 7.93% on the last trading day (Wednesday, 2nd Mar 2022), rising from $145.40 to $156.94. During the day the stock fluctuated 13.08% from a day low at $139.50 to a day high of $157.75. The price has been going up and down for this period, and there has been a 43.83% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 11 million shares were bought and sold for approximately $1.78 billion. 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.

On Feb 16, 2022 "JMP Securities" gave "$315.00 - $245.00" rating for UPST. The price target was set to $148.01+35.7%.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $156.33, a level that may pose a second chance to hit a runner. According to fan-theory $241.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Upstart Holdings Inc

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 $137.24 and $113.64. 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 Monday, February 28, 2022, and so far it has fallen -0.67%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $148.01 and $139.63.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 $148.01. If this is broken, then the next support from accumulated volume will be at $139.63 and $131.55.

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 $18.25 between high and low, or 13.08%. For the last week, the stock has had a daily average volatility of 16.29%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Check full Upstart Holdings Inc forecast and analysis here.