Ultrack Systems Stock Forecast
Volatile ride for Ultrack Systems stock price on Friday moving between $0.0001 and $0.0002
(Updated on Apr 26, 2024)
The Ultrack Systems stock price gained 50.00% on the last trading day (Friday, 26th Apr 2024), rising from $0.0001 to $0.0002. During the last trading day the stock fluctuated 50.00% from a day low at $0.0001 to a day high of $0.0002. The price has risen in 4 of the last 10 days. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 185 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $303.75 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.46% during the next 3 months and, with a 90% probability hold a price between $0.00002681 and $0.0001 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MJLB Signals & Forecast
The Ultrack Systems stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0001 and $0.0001. A breakdown below any of these levels will issue sell signals. Ultrack Systems has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Wednesday, April 24, 2024, and so far it has fallen -6.25%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 55.56% to $0.0002 within 6 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Ultrack Systems stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0001. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
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 $0.00005 between high and low, or 50.00%. For the last week, the stock has had daily average volatility of 36.67%.
Our recommended stop-loss: $0.0001 (-6.00%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (MJLB) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ultrack Systems to open at $0.0001, and during the day (based on 14 day Average True Range), to move between $0.00007619 and $0.0002, which gives a possible trading interval of +/-$0.00007381 (+/-49.21%) up or down from last closing price. If Ultrack Systems takes out the full calculated possible swing range there will be an estimated 98.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0001 (6.67%) than the resistance at $0.0002 (6.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ultrack Systems stock A Buy?
Ultrack Systems holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.
Current score: 0.216 Hold/Accumulate Upgraded
Predicted Opening Price for Ultrack Systems of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.0001 ( 11.11%) | $0.0002 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MJLB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0002 | 22.22 % | |
| R2 | 0.0002 | 9.49 % | ||
| R1 | 0.0002 | 1.62 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0001 | -23.84 % | |
| S2 | 0.0001 | -31.71 % | ||
| S3 | 0.00008333 | -44.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0002 | 6.67 % | ||
| Current price | 0.0002 | |||
| Support | S1 | 0.0001 | -6.67% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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