Unum Group 6.250% JR NT58 ETF Forecast

Green day on Wednesday for Unum Group 6.250% JR NT58
(Updated on Jul 03, 2024)

UNMA Signals & Forecast

The Unum Group 6.250% JR NT58 ETF 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 $25.64 and $25.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 6.76%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Thursday, July 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Buy

Special Signal Notification

Golden Star 12 Months

The ETF had a Golden Star Signal on Thursday, July 20, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, April 25, 2024 with a target of $24.73. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.

Support, Risk & Stop-loss for Unum Group 6.250% JR NT58 ETF

Unum Group 6.250% JR NT58 finds support from accumulated volume at $24.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF 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 ETF During the last day, the ETF moved $0.258 between high and low, or 1.01%. For the last week the ETF has had daily average volatility of 1.14%

The Unum Group 6.250% JR NT58 ETF is extremely overbought on RSI14 (80). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.

Our recommended stop-loss: $25.15 (-2.90%) (This ETF has low daily movements and this gives low risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 55 days ago.)

Trading Expectations (UNMA) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Unum Group 6.250% JR NT58 to open at $25.84, and during the day (based on 14 day Average True Range), to move between $25.62 and $26.18, which gives a possible trading interval of +/-$0.284 (+/-1.10%) up or down from last closing price. If Unum Group 6.250% JR NT58 takes out the full calculated possible swing range there will be an estimated 2.19% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $24.94, some $0.96 (3.71%) from the current price of $25.90, our system finds the risk reward attractive.

Is Unum Group 6.250% JR NT58 ETF A Buy?

Several short-term signals, along with a general good trend, are positive and the ETF has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Unum Group 6.250% JR NT58 ETF to perform well in the short-term period. Due to a possible false trend-break listing ETF as pure buy candidate is held back.

Current score: 2.597 Buy Candidate Unchanged

Predicted Opening Price for Unum Group 6.250% JR NT58 of Friday, July 5, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.