United Natural Foods Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of UNFI
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United Natural Foods stock price ended at $19.85 on Tuesday, after gaining 2.74%
(Updated on Oct 08, 2024)
Buy or Hold candidate since Aug 26, 2024
Gain 41.28%
The United Natural Foods stock price gained 2.74% on the last trading day (Tuesday, 8th Oct 2024), rising from $19.32 to $19.85. During the last trading day the stock fluctuated 3.70% from a day low at $19.20 to a day high of $19.91. The price has risen in 5 of the last 10 days and is up by 20.3% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 557 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $24.53 million.
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 32.04% during the next 3 months and, with a 90% probability hold a price between $20.75 and $29.56 at the end of this 3-month period.
UNFI Signals & Forecast
The United Natural Foods stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $19.70 and $16.12. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, October 01, 2024, and so far it has fallen -9.61%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for United Natural Foods stock
United Natural Foods finds support from accumulated volume at $19.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.710 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 7.59%.
Our recommended stop-loss: $18.73 (-5.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (UNFI) For The Upcoming Trading Day Of Wednesday 9th
For the upcoming trading day on Wednesday, 9th we expect United Natural Foods to open at $19.65, and during the day (based on 14 day Average True Range), to move between $18.70 and $21.00, which gives a possible trading interval of +/-$1.15 (+/-5.79%) up or down from last closing price. If United Natural Foods takes out the full calculated possible swing range there will be an estimated 11.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.10 (3.78%) than the resistance at $21.10 (6.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United Natural Foods 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 United Natural Foods stock to perform well in the short-term.
Current score:
3.998
Buy Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 9, 2024 - $19.65 ( 0.99%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for UNFI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.36 | 2.59% |
| R2 | 20.09 | 1.22% |
| R1 | 19.92 | 0.376% |
| Price | 19.85 | |
| S1 | 19.38 | -2.36% |
| S2 | 19.21 | -3.20% |
| S3 | 18.94 | -4.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 21.96 | 10.63% |
| R1 | 21.10 | 6.30% |
| Price | 19.85 | |
| S1 | 19.10 | -3.78% |
| S2 | 16.28 | -17.98% |
| S3 | 16.20 | -18.39% |
FAQ
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