United Energy Corp. Stock Forecast
Volatile ride for United Energy Corp. stock price on Friday moving between $0.0456 and $0.0510
(Updated on May 17, 2024)
The United Energy Corp. stock price gained 4.60% on the last trading day (Friday, 17th May 2024), rising from $0.0478 to $0.0500. During the last trading day the stock fluctuated 11.84% from a day low at $0.0456 to a day high of $0.0510. The price has risen in 5 of the last 10 days and is up by 8.62% 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, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $51.88 thousand.
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 14.55% during the next 3 months and, with a 90% probability hold a price between $0.0422 and $0.0732 at the end of this 3-month period.
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UNRG Signals & Forecast
The United Energy Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0476 and $0.0494. A breakdown below any of these levels will issue sell signals. United Energy Corp. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, March 08, 2024, and so far it has fallen -13.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for United Energy Corp. stock
United Energy Corp. finds support from accumulated volume at $0.0492 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 $0.0054 between high and low, or 11.84%. For the last week, the stock has had daily average volatility of 9.91%.
Our recommended stop-loss: $0.0469 (-6.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (UNRG) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect United Energy Corp. to open at $0.0489, and during the day (based on 14 day Average True Range), to move between $0.0457 and $0.0543, which gives a possible trading interval of +/-$0.0043 (+/-8.53%) up or down from last closing price. If United Energy Corp. takes out the full calculated possible swing range there will be an estimated 17.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0504 (0.80%) than the support at $0.0492 (1.60%), 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.
Is United Energy Corp. stock A Buy?
United Energy Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.893 Hold/Accumulate Upgraded
Predicted Opening Price for United Energy Corp. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.0489 ( 2.27%) | $0.0500 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNRG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0543 | 8.53 % | |
| R2 | 0.0522 | 4.41 % | ||
| R1 | 0.0509 | 1.86 % | ||
| Current price: | 0.0500 | |||
| Support | S1 | 0.0468 | -6.39 % | |
| S2 | 0.0455 | -8.94 % | ||
| S3 | 0.0435 | -13.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0539 | 7.80 % | |
| R2 | 0.0509 | 1.78 % | ||
| R1 | 0.0504 | 0.80 % | ||
| Current price | 0.0500 | |||
| Support | S1 | 0.0492 | -1.60% | |
| S2 | 0.0483 | -3.40% | ||
| S3 | 0.0431 | -13.90% |
FAQ
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