UiPath Inc. Stock Forecast
Weaker technical forecast for UiPath Inc. as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The UiPath Inc. stock price gained 0.621% on the last trading day (Tuesday, 2nd Jul 2024), rising from $12.88 to $12.96. During the last trading day the stock fluctuated 2.73% from a day low at $12.81 to a day high of $13.16. The price has risen in 7 of the last 10 days and is up by 13.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 121 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $105.46 million.
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 -43.02% during the next 3 months and, with a 90% probability hold a price between $5.48 and $8.55 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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PATH Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 15.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The UiPath Inc. 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 $14.64. On a fall, the stock will find some support from the short-term average at $12.48. 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.
Support, Risk & Stop-loss for UiPath Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $12.26 and $12.07. There is a 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, UiPath Inc. finds support just below today's level at $12.26. If this is broken, then the next support from accumulated volume will be at $12.07 and $11.92.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.350 between high and low, or 2.73%. For the last week, the stock has had daily average volatility of 3.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PATH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect UiPath Inc. to open at $12.98, and during the day (based on 14 day Average True Range), to move between $12.45 and $13.47, which gives a possible trading interval of +/-$0.511 (+/-3.94%) up or down from last closing price. If UiPath Inc. takes out the full calculated possible swing range there will be an estimated 7.89% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $12.26, some $0.700 (5.40%) from the current price of $12.96, our system finds the risk reward attractive.
Is UiPath Inc. stock A Buy?
UiPath Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.106 Sell Candidate Downgraded
Predicted Opening Price for UiPath Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $12.98 ( 0.128%) | $12.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PATH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.33 | 2.83% |
| R2 | 13.19 | 1.80% |
| R1 | 13.11 | 1.16% |
| Price | 12.96 | |
| S1 | 12.84 | -0.90% |
| S2 | 12.76 | -1.54% |
| S3 | 12.63 | -2.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.96 | |
| S1 | 12.26 | -5.40% |
| S2 | 12.07 | -6.87% |
| S3 | 11.92 | -8.02% |
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