U Power Limited Stock Forecast
Volatile ride for U Power Limited stock price on Monday moving between $6.16 and $7.00
(Updated on Jun 17, 2024)
The U Power Limited stock price gained 9.20% on the last trading day (Monday, 17th Jun 2024), rising from $6.41 to $7.00. During the last trading day the stock fluctuated 13.63% from a day low at $6.16 to a day high of $7.00. The price has risen in 5 of the last 10 days and is up by 33.33% 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, 33 thousand more shares were traded than the day before. In total, 55 thousand shares were bought and sold for approximately $382.59 thousand.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $7.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.44% during the next 3 months and, with a 90% probability hold a price between $5.45 and $8.07 at the end of this 3-month period.
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UCAR Signals & Forecast
Mostly positive signals in the chart today. The U Power Limited 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 $6.08 and $5.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 42.57%. 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). U Power Limited 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for U Power Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.20 and $5.37. 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, U Power Limited finds support just below today's level at $6.20. If this is broken, then the next support from accumulated volume will be at $5.37 and $5.27.
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 $0.84 between high and low, or 13.63%. For the last week, the stock has had daily average volatility of 12.93%.
The U Power Limited 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.
Our recommended stop-loss: $6.67 (-4.71%) (This stock has high daily movements and this gives high risk. The RSI14 is 72 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (UCAR) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect U Power Limited to open at $6.72, and during the day (based on 14 day Average True Range), to move between $6.34 and $7.66, which gives a possible trading interval of +/-$0.657 (+/-9.38%) up or down from last closing price. If U Power Limited takes out the full calculated possible swing range there will be an estimated 18.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.16 (2.29%) than the support at $6.20 (11.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is U Power Limited stock A Buy?
U Power Limited holds several positive signals and is within a weak 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.
Current score: 5.822 Strong Buy Candidate Unchanged
Predicted Opening Price for U Power Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $6.72 ( 4.00%) | $7.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UCAR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.56 | 8.00% |
| R2 | 7.24 | 3.42% |
| R1 | 7.04 | 0.584% |
| Price | 7.00 | |
| S1 | 6.40 | -8.58% |
| S2 | 6.20 | -11.41% |
| S3 | 5.88 | -16.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 7.16 | 2.29% |
| Price | 7.00 | |
| S1 | 6.20 | -11.43% |
| S2 | 5.37 | -23.29% |
| S3 | 5.27 | -24.71% |
FAQ
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