United Fire Group Stock Forecast
Green day on Tuesday for United Fire Group
(Updated on Jul 02, 2024)
The United Fire Group stock price gained 0.757% on the last trading day (Tuesday, 2nd Jul 2024), rising from $21.14 to $21.30. During the last trading day the stock fluctuated 1.07% from a day low at $21.09 to a day high of $21.32. The price has been going up and down for this period, and there has been a -0.09% loss for the last 2 weeks. Volume fell on the last day by -50 thousand shares and in total, 49 thousand shares were bought and sold for approximately $1.05 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 -4.40% during the next 3 months and, with a 90% probability hold a price between $19.48 and $22.08 at the end of this 3-month period.
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UFCS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.55%. 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 United Fire Group 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 $21.92. On a fall, the stock will find some support from the short-term average at $21.08. 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. 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
United Fire Group finds support from accumulated volume at $21.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 $0.226 between high and low, or 1.07%. For the last week the stock has had daily average volatility of 2.49%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UFCS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect United Fire Group to open at $21.24, and during the day (based on 14 day Average True Range), to move between $20.73 and $21.87, which gives a possible trading interval of +/-$0.574 (+/-2.69%) up or down from last closing price. If United Fire Group takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.35 (0.23%) than the support at $21.24 (0.28%), 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 United Fire Group stock A Buy?
United Fire Group 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: -1.268 Sell Candidate Unchanged
Predicted Opening Price for United Fire Group of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $21.24 ( 0.291%) | $21.30 |
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 | |
|---|---|---|
| R3 | 21.46 | 0.770% |
| R2 | 21.38 | 0.365% |
| R1 | 21.32 | 0.114% |
| Price | 21.30 | |
| S1 | 21.15 | -0.696% |
| S2 | 21.10 | -0.95% |
| S3 | 21.01 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.49 | 0.89% |
| R2 | 21.37 | 0.329% |
| R1 | 21.35 | 0.235% |
| Price | 21.30 | |
| S1 | 21.24 | -0.282% |
| S2 | 21.17 | -0.610% |
| S3 | 20.90 | -1.88% |
UFCS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 14, 2024 | $0.160 | 0.778% |
| 2 | Mar 07, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.160 | 0.735% |
| 3 | Nov 17, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.160 | 0.82% |
| 4 | Aug 18, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.160 | 0.81% |
| 5 | May 17, 2023 | Jun 01, 2023 | Jun 16, 2023 | $0.160 | 0.694% |
FAQ
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