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AI Analysis of UFPI
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Universal Forest Products stock downgraded to Hold/Accumulate
(Updated on Jun 11, 2024)

Buy or Hold candidate since Jun 10, 2024 Loss -0.79% PDF

The Universal Forest Products stock price fell by -0.790% on the last day (Tuesday, 11th Jun 2024) from $115.26 to $114.35. During the last trading day the stock fluctuated 1.36% from a day low at $112.88 to a day high of $114.41. The price has fallen in 6 of the last 10 days and is down by -2.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -13 thousand shares and in total, 182 thousand shares were bought and sold for approximately $20.85 million.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Universal Forest Products stock with a 90% probability to be traded between $110.74 and $124.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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UFPI Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 0.483%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Universal Forest Products 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 $115.07 and $117.03. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Universal Forest Products stock

Universal Forest Products finds support from accumulated volume at $112.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.53 (1.36%) between high and low. For the last week, the stock has had daily average volatility of 1.60%.

Our recommended stop-loss: $107.19 (-6.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (UFPI) For The Upcoming Trading Day Of Wednesday 12th

For the upcoming trading day on Wednesday, 12th we expect Universal Forest Products to open at $113.88, and during the day (based on 14 day Average True Range), to move between $111.78 and $116.92, which gives a possible trading interval of +/-$2.57 (+/-2.25%) up or down from last closing price. If Universal Forest Products takes out the full calculated possible swing range there will be an estimated 4.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $114.70 (0.31%) than the support at $112.70 (1.44%), 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 Universal Forest Products stock A Buy?

Universal Forest Products 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.763 Hold/Accumulate Downgraded

Predicted Opening Price for Universal Forest Products of Wednesday, June 12, 2024

Fair opening price June 12, 2024 Current price
$113.88 ( 0.411%) $114.35

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for UFPI

Fibonacci Support & Resistance Levels

Level Price
R3 115.41 0.93%
R2 114.83 0.416%
R1 114.46 0.100%
Price 114.35
S1 113.30 -0.92%
S2 112.93 -1.24%
S3 112.35 -1.75%

Accumulated Volume Support & Resistance Levels

Level Price
R3 119.48 4.49%
R2 115.62 1.11%
R1 114.70 0.306%
Price 114.35
S1 112.70 -1.44%
S2 112.55 -1.57%
S3 110.65 -3.24%

UFPI Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 24, 2024 Jun 03, 2024 Jun 17, 2024 $0.330 0.289%
2 Apr 24, 2024 May 31, 2024 Jun 17, 2024 $0.330 0.289%
3 Feb 01, 2024 Feb 29, 2024 Mar 15, 2024 $0.330 0.285%
4 Oct 24, 2023 Nov 30, 2023 Dec 15, 2023 $0.300 0.243%
5 Jul 26, 2023 Aug 31, 2023 Sep 15, 2023 $0.300 0.293%

FAQ

What is the symbol for Universal Forest Products Stock and on which exchange is it traded?
The symbol for Universal Forest Products is UFPI and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Universal Forest Products Stock?
Universal Forest Products 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Universal Forest Products Stock?
Universal Forest Products Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Universal Forest Products Stock.

What's the current price of Universal Forest Products Stock?
As of the end of day on the Jun 11, 2024, the price of an Universal Forest Products (UFPI) share was $114.35.

What is the 52-week high and low for Universal Forest Products Stock?
The 52-week high for Universal Forest Products Stock is $128.65 and the 52-week low is $87.15.

What is the market capitalization of Universal Forest Products Stock?
As of the Jun 11, 2024, the market capitalization of Universal Forest Products is 7.062B.

When is the next earnings date for Universal Forest Products?
The upcoming earnings date for Universal Forest Products is Aug 07, 2024.
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