Universal Music Group N.v. Stock Forecast
Universal Music Group N.v. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Universal Music Group N.v. stock price fell by -2.15% on the last day (Friday, 28th Jun 2024) from 28.39€ to 27.78€. During the last trading day the stock fluctuated 2.34% from a day low at 27.78€ to a day high of 28.43€. The price has been going up and down for this period, and there has been a -2.97% loss for the last 2 weeks. Volume has increased on the last day by 662 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately 39.88€ million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 27.70€ 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 4.03% during the next 3 months and, with a 90% probability hold a price between 28.82€ and 31.33€ at the end of this 3-month period.
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UMG.AS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.180%. 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 Music Group N.v. 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 28.05€ and 28.36€. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Universal Music Group N.v. stock
Universal Music Group N.v. finds support from accumulated volume at 27.77€ 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 0.650€ between high and low, or 2.34%. For the last week the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UMG.AS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Universal Music Group N.v. to open at 28.00€, and during the day (based on 14 day Average True Range), to move between 27.21€ and 28.35€, which gives a possible trading interval of +/-0.572€ (+/-2.06%) up or down from last closing price. If Universal Music Group N.v. takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 27.77€ (0.04%) than the resistance at 28.16€ (1.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Universal Music Group N.v. stock A Buy?
The Universal Music Group N.v. stock holds several negative signals and despite the positive trend, we believe Universal Music Group N.v. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.027 Sell Candidate Downgraded
Predicted Opening Price for Universal Music Group N.v. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 28.00€ ( 0.780%) | 27.78€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMG.AS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.65 | 3.12% |
| R2 | 28.40 | 2.23% |
| R1 | 28.24 | 1.67% |
| Price | 27.78 | |
| S1 | 27.75 | -0.114% |
| S2 | 27.59 | -0.666% |
| S3 | 27.35 | -1.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.58 | 2.88% |
| R2 | 28.50 | 2.59% |
| R1 | 28.16 | 1.37% |
| Price | 27.78 | |
| S1 | 27.77 | -0.0360% |
| S2 | 27.73 | -0.180% |
| S3 | 27.70 | -0.288% |
UMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 11, 2024 | 0.270€ | 0.96% |
| 2 | Oct 04, 2023 | Oct 04, 2023 | Oct 27, 2023 | 0.240€ | 1.03% |
| 3 | May 15, 2023 | May 15, 2023 | Jun 06, 2023 | 0.270€ | 1.42% |
| 4 | Oct 05, 2022 | Oct 05, 2022 | Oct 28, 2022 | 0.240€ | 1.22% |
| 5 | May 16, 2022 | May 16, 2022 | Jun 08, 2022 | 0.200€ | 0.95% |
FAQ
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