United Health Products Inc Stock Forecast
United Health Products Inc stock price up 1.37% on Wednesday
(Updated on Apr 24, 2024)
The United Health Products Inc stock price gained 1.37% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.190 to $0.193. During the last trading day the stock fluctuated 5.26% from a day low at $0.190 to a day high of $0.200. The price has risen in 6 of the last 10 days and is up by 1.37% 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, 39 thousand more shares were traded than the day before. In total, 194 thousand shares were bought and sold for approximately $37.28 thousand.
The stock lies the upper part of a very wide and falling 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 $0.201 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.30% during the next 3 months and, with a 90% probability hold a price between $0.132 and $0.168 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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UEEC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). United Health Products 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 United Health Products 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 $0.197. On a fall, the stock will find some support from the short-term average at $0.192. 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. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -8.29%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for United Health Products Inc stock
United Health Products Inc finds support from accumulated volume at $0.190 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 $0.0100 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UEEC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect United Health Products Inc to open at $0.194, and during the day (based on 14 day Average True Range), to move between $0.173 and $0.212, which gives a possible trading interval of +/-$0.0191 (+/-9.94%) up or down from last closing price. If United Health Products Inc takes out the full calculated possible swing range there will be an estimated 19.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.190 (1.35%) than the resistance at $0.200 (3.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United Health Products Inc stock A Buy?
United Health Products 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.
Current score: -2.726 Sell Candidate Unchanged
Predicted Opening Price for United Health Products Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.194 ( 0.83%) | $0.193 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UEEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.204 | 6.02 % | |
| R2 | 0.200 | 4.04 % | ||
| R1 | 0.198 | 2.81 % | ||
| Current price: | 0.193 | |||
| Support | S1 | 0.190 | -1.15 % | |
| S2 | 0.188 | -2.38 % | ||
| S3 | 0.184 | -4.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 9.03 % | |
| R2 | 0.200 | 3.84 % | ||
| R1 | 0.200 | 3.68 % | ||
| Current price | 0.193 | |||
| Support | S1 | 0.190 | -1.35% | |
| S2 | 0.190 | -1.40% | ||
| S3 | 0.175 | -9.14% |
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