UFP Technologies Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for UFP Technologies stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The UFP Technologies stock price fell by -0.622% on the last day (Tuesday, 25th Jun 2024) from $260.62 to $259.00. During the last trading day the stock fluctuated 1.86% from a day low at $257.21 to a day high of $262.00. The price has been going up and down for this period, and there has been a 3.34% gain for the last 2 weeks. 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 -21 thousand shares and in total, 29 thousand shares were bought and sold for approximately $7.51 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.23% during the next 3 months and, with a 90% probability hold a price between $247.71 and $301.37 at the end of this 3-month period.
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UFPT Signals & Forecast
The UFP Technologies stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $256.55 and $256.92. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -1.52%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, June 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, June 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for UFP Technologies stock
UFP Technologies finds support from accumulated volume at $252.20 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.79 between high and low, or 1.86%. For the last week the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: $247.58 (-4.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (UFPT) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect UFP Technologies to open at $259.40, and during the day (based on 14 day Average True Range), to move between $250.17 and $267.83, which gives a possible trading interval of +/-$8.83 (+/-3.41%) up or down from last closing price. If UFP Technologies takes out the full calculated possible swing range there will be an estimated 6.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $261.42 (0.93%) than the support at $252.20 (2.63%), 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 UFP Technologies stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for UFP Technologies stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.382 Buy Candidate Upgraded
Predicted Opening Price for UFP Technologies of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $259.40 ( 0.156%) | $259.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UFPT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 264.19 | 2.01% |
| R2 | 262.36 | 1.30% |
| R1 | 261.23 | 0.86% |
| Price | 259.00 | |
| S1 | 257.57 | -0.551% |
| S2 | 256.44 | -0.99% |
| S3 | 254.61 | -1.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 262.55 | 1.37% |
| R2 | 262.14 | 1.21% |
| R1 | 261.42 | 0.93% |
| Price | 259.00 | |
| S1 | 252.20 | -2.63% |
| S2 | 240.62 | -7.10% |
| S3 | 235.84 | -8.94% |
FAQ
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