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Volatile ride for Upstart Holdings Inc stock price on Thursday moving between $262.09 and $291.25

StockInvest.us, 4 months ago


The Upstart Holdings Inc stock price gained 5.57% on the last trading day (Thursday, 9th Sep 2021), rising from $274.33 to $289.60. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 11.13% from a day low at $262.09 to a day high of $291.25. The price has risen in 8 of the last 10 days and is up by 35.24% over the past 2 weeks. Volume fell on the last day by -221 thousand shares and in total, 7 million shares were bought and sold for approximately $1.93 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 September 08, 2021 "Piper Sandler" gave "$191.00 - $300.00" rating for UPST. The price target was set to $262.70+6.2%.

Given the current short-term trend, the stock is expected to rise 89.13% during the next 3 months and, with a 90% probability hold a price between $373.68 and $547.72 at the end of this 3-month period.

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 $252.81 and $182.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 15, 2021, and so far it has risen 156.08%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $274.33 and $262.70.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 $274.33. If this is broken, then the next support from accumulated volume will be at $262.70 and $219.45.

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 $29.16 between high and low, or 11.13%. For the last week, the stock has had a daily average volatility of 7.93%.

The Upstart Holdings Inc 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. 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.Since the Upstart Holdings Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Upstart Holdings Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Check full Upstart Holdings Inc forecast and analysis here.