Universal Media Group Inc. Stock Forecast
Red day on Friday for Universal Media Group Inc.
(Updated on May 17, 2024)
No changes to the price of Universal Media Group Inc. stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at $0.170 to a day high of $0.170. The price has fallen in 5 of the last 10 days and is down by -12.87% for this period.
The stock lies in the middle of a very 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 19.93% during the next 3 months and, with a 90% probability hold a price between $0.158 and $0.271 at the end of this 3-month period.
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UMGP Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has fallen 0%. 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 Media Group Inc. 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 $0.171 and $0.192. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, March 18, 2024 and based on theory for this formation the price should fall by -9.59% to $0.154 within 4 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Universal Media Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.153 and $0.150. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Universal Media Group Inc. finds support just below today's level at $0.153. If this is broken, then the next support from accumulated volume will be at $0.150 and $0.130.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 26.91%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UMGP) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Universal Media Group Inc. to open at $0.170, and during the day (based on 14 day Average True Range), to move between $0.143 and $0.197, which gives a possible trading interval of +/-$0.0267 (+/-15.72%) up or down from last closing price. If Universal Media Group Inc. takes out the full calculated possible swing range there will be an estimated 31.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.153 (9.95%) than the resistance at $0.190 (11.83%), 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 Media Group Inc. stock A Buy?
The Universal Media Group Inc. stock holds several negative signals and despite the positive trend, we believe Universal Media Group Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.686 Sell Candidate Unchanged
Predicted Opening Price for Universal Media Group Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.170 ( 0.00000000%) | $0.170 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UMGP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.170 | 0.00000000 % | |
| R2 | 0.170 | 0.00000000 % | ||
| R1 | 0.170 | 0.00000000 % | ||
| Current price: | 0.170 | |||
| Support | S1 | 0.170 | 0.00000000 % | |
| S2 | 0.170 | 0.00000000 % | ||
| S3 | 0.170 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.210 | 23.54 % | |
| R2 | 0.194 | 14.13 % | ||
| R1 | 0.190 | 11.83 % | ||
| Current price | 0.170 | |||
| Support | S1 | 0.153 | -9.95% | |
| S2 | 0.150 | -11.65% | ||
| S3 | 0.130 | -23.54% |
FAQ
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