Uniti Group Inc. Stock Forecast
Weaker technical forecast for Uniti Group Inc. as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Uniti Group Inc. stock price fell by -0.523% on the last day (Wednesday, 24th Apr 2024) from $5.74 to $5.71. During the last trading day the stock fluctuated 6.01% from a day low at $5.66 to a day high of $6.00. The price has fallen in 6 of the last 10 days. Volume has increased on the last day by 3 million 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, 8 million shares were bought and sold for approximately $46.13 million.
The stock lies in the middle of a very wide and weak 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 7.86% during the next 3 months and, with a 90% probability hold a price between $5.76 and $7.35 at the end of this 3-month period.
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UNIT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.74%. Further rise is indicated until a new top pivot has been found. 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. The Uniti Group Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $5.91. On a fall, the stock will find some support from the short-term average at $5.44. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Uniti Group Inc. stock
Uniti Group Inc. finds support from accumulated volume at $5.66 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 $0.340 between high and low, or 6.01%. For the last week, the stock has had daily average volatility of 5.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UNIT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Uniti Group Inc. to open at $5.79, and during the day (based on 14 day Average True Range), to move between $5.47 and $5.95, which gives a possible trading interval of +/-$0.237 (+/-4.16%) up or down from last closing price. If Uniti Group Inc. takes out the full calculated possible swing range there will be an estimated 8.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.74 (0.53%) than the support at $5.66 (0.88%), 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.
Earnings coming up
Uniti Group Inc. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for Uniti Group Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.73% in the first trading day after earnings release.
Is Uniti Group Inc. stock A Buy?
Uniti Group Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -2.053 Sell Candidate Downgraded
Predicted Opening Price for Uniti Group Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $5.79 ( 1.40%) | $5.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNIT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.13 | 7.36 % | |
| R2 | 6.00 | 5.08 % | ||
| R1 | 5.92 | 3.68 % | ||
| Current price: | 5.71 | |||
| Support | S1 | 5.66 | -0.87 % | |
| S2 | 5.58 | -2.28 % | ||
| S3 | 5.45 | -4.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.41 | 12.26 % | |
| R2 | 5.86 | 2.63 % | ||
| R1 | 5.74 | 0.525 % | ||
| Current price | 5.71 | |||
| Support | S1 | 5.66 | -0.88% | |
| S2 | 5.64 | -1.23% | ||
| S3 | 5.57 | -2.45% |
UNIT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $0.150 | 2.67% |
| 2 | Nov 01, 2023 | Dec 14, 2023 | Jan 04, 2024 | $0.150 | 2.52% |
| 3 | Jul 28, 2023 | Sep 07, 2023 | Sep 22, 2023 | $0.150 | 3.14% |
| 4 | May 02, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.150 | 3.25% |
| 5 | Feb 23, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.150 | 4.50% |
FAQ
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