uCloudlink Group Inc. Stock Forecast
High volatility in uCloudlink Group Inc. stock price on Monday which ended trading at $1.37
(Updated on Apr 22, 2024)
The uCloudlink Group Inc. stock price gained 3.79% on the last trading day (Monday, 22nd Apr 2024), rising from $1.32 to $1.37. During the last trading day the stock fluctuated 13.64% from a day low at $1.32 to a day high of $1.50. The price has fallen in 6 of the last 10 days and is down by -12.18% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately $13.75 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.32 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.25% during the next 3 months and, with a 90% probability hold a price between $1.35 and $1.87 at the end of this 3-month period.
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UCL Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.79%. Further rise is indicated until a new top pivot has been found. uCloudlink Group Inc. 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. The uCloudlink Group 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 $1.43 and $1.53. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for uCloudlink Group Inc. stock
uCloudlink Group Inc. finds support from accumulated volume at $1.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.180 between high and low, or 13.64%. For the last week, the stock has had daily average volatility of 8.21%.
Our recommended stop-loss: $1.31 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (UCL) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect uCloudlink Group Inc. to open at $1.40, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.50, which gives a possible trading interval of +/-$0.131 (+/-9.59%) up or down from last closing price. If uCloudlink Group Inc. takes out the full calculated possible swing range there will be an estimated 19.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.33 (2.91%) than the resistance at $1.57 (14.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is uCloudlink Group Inc. stock A Buy?
uCloudlink Group 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: -0.747 Hold/Accumulate Upgraded
Predicted Opening Price for uCloudlink Group Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $1.40 ( 1.95%) | $1.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UCL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.58 | 15.09 % | |
| R2 | 1.51 | 10.07 % | ||
| R1 | 1.47 | 6.97 % | ||
| Current price: | 1.37 | |||
| Support | S1 | 1.33 | -3.07 % | |
| S2 | 1.29 | -6.17 % | ||
| S3 | 1.22 | -11.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.66 | 21.17 % | |
| R2 | 1.60 | 16.79 % | ||
| R1 | 1.57 | 14.60 % | ||
| Current price | 1.37 | |||
| Support | S1 | 1.33 | -2.91% | |
| S2 | 1.32 | -3.65% | ||
| S3 | 1.31 | -4.55% |
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