Ultralife Corporation Stock Forecast
Ultralife Corporation stock price ended at $8.91 on Tuesday, after gaining 3.60%.
(Updated on Apr 16, 2024)
The Ultralife Corporation stock price gained 3.60% on the last trading day (Tuesday, 16th Apr 2024), rising from $8.60 to $8.91. During the last trading day the stock fluctuated 9.33% from a day low at $8.47 to a day high of $9.26. The price has risen in 6 of the last 10 days but is still down by -6.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately $414.40 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.34% during the next 3 months and, with a 90% probability hold a price between $11.44 and $13.78 at the end of this 3-month period.
ULBI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ultralife Corporation 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ultralife Corporation 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 $8.98 and $9.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -10.54%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ultralife Corporation stock
Ultralife Corporation finds support from accumulated volume at $8.71 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 $0.790 between high and low, or 9.33%. For the last week, the stock has had daily average volatility of 5.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ULBI) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Ultralife Corporation to open at $8.88, and during the day (based on 14 day Average True Range), to move between $8.37 and $9.45, which gives a possible trading interval of +/-$0.535 (+/-6.01%) up or down from last closing price. If Ultralife Corporation takes out the full calculated possible swing range there will be an estimated 12.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.71 (2.24%) than the resistance at $9.20 (3.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ultralife Corporation stock A Buy?
The Ultralife Corporation stock holds several negative signals and despite the positive trend, we believe Ultralife Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.702 Sell Candidate Unchanged
Predicted Opening Price for Ultralife Corporation of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $8.88 ( 0.337%) | $8.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ULBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.67 | 8.53 % | |
| R2 | 9.37 | 5.14 % | ||
| R1 | 9.18 | 3.05 % | ||
| Current price: | 8.91 | |||
| Support | S1 | 8.58 | -3.72 % | |
| S2 | 8.39 | -5.82 % | ||
| S3 | 8.09 | -9.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.96 | 11.78 % | |
| R2 | 9.36 | 5.05 % | ||
| R1 | 9.20 | 3.25 % | ||
| Current price | 8.91 | |||
| Support | S1 | 8.71 | -2.24% | |
| S2 | 8.51 | -4.49% | ||
| S3 | 8.42 | -5.50% |
FAQ
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