Unity Bancorp Stock Forecast
Green day on Thursday for Unity Bancorp stock after gaining 0.623%
(Updated on May 02, 2024)
The Unity Bancorp stock price gained 0.623% on the last trading day (Thursday, 2nd May 2024), rising from $27.27 to $27.44. During the last trading day the stock fluctuated 1.18% from a day low at $27.22 to a day high of $27.54. The price has risen in 7 of the last 10 days and is up by 3.96% over the past 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 9 thousand shares were bought and sold for approximately $244.44 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Unity Bancorp stock with a 90% probability to be traded between $25.74 and $29.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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UNTY Signals & Forecast
The Unity Bancorp 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 $27.32 and $27.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 5.54%. 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.
Support, Risk & Stop-loss for Unity Bancorp stock
Unity Bancorp finds support from accumulated volume at $27.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 $0.320 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.25%.
Our recommended stop-loss: $26.17 (-4.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (UNTY) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Unity Bancorp to open at $27.40, and during the day (based on 14 day Average True Range), to move between $26.81 and $28.07, which gives a possible trading interval of +/-$0.626 (+/-2.28%) up or down from last closing price. If Unity Bancorp takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.27 (0.62%) than the resistance at $27.70 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Unity Bancorp stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Unity Bancorp stock to perform well in the short-term period.
Current score: 2.826 Buy Candidate Unchanged
Predicted Opening Price for Unity Bancorp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $27.40 ( 0.146%) | $27.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNTY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.72 | 1.02 % | |
| R2 | 27.60 | 0.575 % | ||
| R1 | 27.52 | 0.300 % | ||
| Current price: | 27.44 | |||
| Support | S1 | 27.28 | -0.591 % | |
| S2 | 27.20 | -0.87 % | ||
| S3 | 27.08 | -1.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.70 | 8.24 % | |
| R2 | 27.85 | 1.49 % | ||
| R1 | 27.70 | 0.95 % | ||
| Current price | 27.44 | |||
| Support | S1 | 27.27 | -0.620% | |
| S2 | 26.75 | -2.51% | ||
| S3 | 26.28 | -4.23% |
UNTY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.130 | 0.471% |
| 2 | Nov 16, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.120 | 0.406% |
| 3 | Aug 17, 2023 | Sep 07, 2023 | Sep 22, 2023 | $0.120 | 0.513% |
| 4 | Apr 27, 2023 | Jun 08, 2023 | Jun 23, 2023 | $0.120 | 0.509% |
| 5 | Feb 16, 2023 | Mar 09, 2023 | Mar 24, 2023 | $0.120 | 0.523% |
FAQ
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