Universal Biosensors, Inc. Stock Forecast

Stronger technical forecast for Universal Biosensors, Inc. stock price after Tuesday trading.
(Updated on May 21, 2024)

UBI.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has fallen 0%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Universal Biosensors, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.135 and $0.162. A break-up above any of these levels will issue buy signals. Universal Biosensors, Inc. 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.

Support, Risk & Stop-loss for Universal Biosensors, Inc. stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.741%.

Our recommended stop-loss: $0.123 (-5.28%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 42 days ago.)

Trading Expectations (UBI.AX) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Universal Biosensors, Inc. to open at $0.130, and during the day (based on 14 day Average True Range), to move between $0.121 and $0.139, which gives a possible trading interval of +/-$0.0093 (+/-7.19%) up or down from last closing price. If Universal Biosensors, Inc. takes out the full calculated possible swing range there will be an estimated 14.38% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.140, some $0.0100 (7.69%) from the current price of $0.130, our system finds the risk reward not very attractive.

Is Universal Biosensors, Inc. stock A Buy?

Universal Biosensors, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Universal Biosensors, Inc. of Wednesday, May 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.