United Fire Group Stock Forecast
Green day on Monday for United Fire Group stock after gaining 2.78%
(Updated on May 06, 2024)
The United Fire Group stock price gained 2.78% on the last trading day (Monday, 6th May 2024), rising from $22.64 to $23.27. During the last trading day the stock fluctuated 2.60% from a day low at $22.68 to a day high of $23.27. The price has fallen in 6 of the last 10 days but is still up by 2.42% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 62 thousand shares were bought and sold for approximately $1.43 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 -4.19% during the next 3 months and, with a 90% probability hold a price between $20.15 and $22.99 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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UFCS Signals & Forecast
The United Fire Group 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 $22.53 and $22.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 8.79%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for United Fire Group stock
On the downside, the stock finds support just below today's level from accumulated volume at $22.09 and $21.77. 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, United Fire Group finds support just below today's level at $22.09. If this is broken, then the next support from accumulated volume will be at $21.77 and $21.43.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.590 between high and low, or 2.60%. For the last week the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: $22.13 (-4.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (UFCS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect United Fire Group to open at $23.07, and during the day (based on 14 day Average True Range), to move between $22.78 and $23.76, which gives a possible trading interval of +/-$0.493 (+/-2.12%) up or down from last closing price. If United Fire Group takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.32 (4.51%) than the support at $22.09 (5.07%), 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.
Earnings coming up
United Fire Group will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.550. We will update the financials statements for United Fire Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.11% in the first trading day after earnings release.
Is United Fire Group stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.606 Buy Candidate Unchanged
Predicted Opening Price for United Fire Group of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $23.07 ( 0.85%) | $23.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UFCS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.66 | 1.69 % | |
| R2 | 23.44 | 0.722 % | ||
| R1 | 23.30 | 0.123 % | ||
| Current price: | 23.27 | |||
| Support | S1 | 22.85 | -1.81 % | |
| S2 | 22.71 | -2.41 % | ||
| S3 | 22.48 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.96 | 7.26 % | |
| R2 | 24.76 | 6.40 % | ||
| R1 | 24.32 | 4.51 % | ||
| Current price | 23.27 | |||
| Support | S1 | 22.09 | -5.07% | |
| S2 | 21.77 | -6.45% | ||
| S3 | 21.43 | -7.91% |
UFCS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.160 | 0.735% |
| 2 | Nov 17, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.160 | 0.82% |
| 3 | Aug 18, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.160 | 0.81% |
| 4 | May 17, 2023 | Jun 01, 2023 | Jun 16, 2023 | $0.160 | 0.694% |
| 5 | Feb 24, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.160 | 0.607% |
FAQ
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