First United Corporation Stock Forecast
Red day on Friday for First United Corporation
(Updated on Mar 24, 2023)
The First United Corporation stock price fell by -0.639% on the last day (Friday, 24th Mar 2023) from $17.21 to $17.10. During the last trading day the stock fluctuated 2.50% from a day low at $16.80 to a day high of $17.22. The price has fallen in 6 of the last 10 days and is down by -11.63% for this period. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 thousand shares were bought and sold for approximately $77.41 thousand.
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The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $16.61 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.86% during the next 3 months and, with a 90% probability hold a price between $15.30 and $18.24 at the end of this 3-month period.
FUNC Signals & Forecast
There are mixed signals in the stock today. The First United Corporation stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $18.93. On a fall, the stock will find some support from the short-term average at $17.04. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). First United Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, March 17, 2023, and so far it has risen 2.09%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for First United Corporation stock
First United Corporation finds support from accumulated volume at $16.98 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 $0.420 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FUNC) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect First United Corporation to open at $17.04, and during the day (based on 14 day Average True Range), to move between $16.36 and $17.84, which gives a possible trading interval of +/-$0.742 (+/-4.34%) up or down from last closing price. If First United Corporation takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.98 (0.70%) than the resistance at $17.51 (2.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First United Corporation stock A Buy?
First United Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.400 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for First United Corporation of Monday, March 27, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 27, 2023 | Current price |
|---|---|
| $17.04 | $17.10 (Overvalued) |
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Trading levels for FUNC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.46 | 2.10 % | |
| R2 | 17.30 | 1.17 % | ||
| R1 | 17.20 | 0.587 % | ||
| Current price: | 17.10 | |||
| Support | S1 | 16.88 | -1.29 % | |
| S2 | 16.78 | -1.87 % | ||
| S3 | 16.62 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.97 | 16.78 % | |
| R2 | 19.25 | 12.57 % | ||
| R1 | 17.51 | 2.40 % | ||
| Current price | 17.10 | |||
| Support | S1 | 16.98 | -0.702% | |
| S2 | 16.76 | -1.99% | ||
| S3 | 16.75 | -2.05% |
FAQ
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About First United Corporation
First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; ... FUNC Profile
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