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Upstart Holdings Inc stock downgraded from Buy Candidate to Sell Candidate after Wednesday trading session.

StockInvest.us, 1 month ago


The Upstart Holdings Inc stock price fell by -3.85% on the last day (Wednesday, 27th Oct 2021) from $327.08 to $314.50. and has now fallen 3 days in a row. During the day the stock fluctuated 7.48% from a day low at $311.50 to a day high of $334.81. The price has fallen in 7 of the last 10 days and is down by -8.81% 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 -4 million shares and in total, 4 million shares were bought and sold for approximately $1.15 billion.

On Oct 26, 2021 "Jefferies Financial Group" gave "$160.00 - $330.00" rating for UPST. The price target was set to $359.81+5.0%.

Given the current short-term trend, the stock is expected to rise 146.9% during the next 3 months and, with a 90% probability hold a price between $776.50 and $1 040.28 at the end of this 3-month period.

Upstart Holdings Inc

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. The Upstart Holdings Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $345.88 and $321.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, October 15, 2021, and so far it has fallen -19.36%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Upstart Holdings Inc finds support from accumulated volume at $303.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $23.31 between high and low, or 7.48%. For the last week, the stock has had a daily average volatility of 7.45%.

The Upstart Holdings Inc stock holds several negative signals and despite the positive trend, we believe Upstart Holdings Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Check full Upstart Holdings Inc forecast and analysis here.