Univec Inc Stock Forecast
Univec Inc stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 18, 2024)
The Univec Inc stock price fell by -1.92% on the last day (Tuesday, 18th Jun 2024) from $0.0052 to $0.0051. During the last trading day the stock fluctuated 7.84% from a day low at $0.0051 to a day high of $0.0055. The price has been going up and down for this period, and there has been a 7.94% gain for the last 2 weeks. Volume has increased on the last day by 196 thousand 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, 369 thousand shares were bought and sold for approximately $1.88 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.45% during the next 3 months and, with a 90% probability hold a price between $0.0036 and $0.0059 at the end of this 3-month period.
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UNVC Signals & Forecast
The Univec Inc 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 $0.0050 and $0.0048. 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). 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, June 14, 2024, and so far it has fallen -5.56%. Further fall is indicated until a new bottom pivot has been found. Univec Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -5.88% to $0.0048 within 8 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Univec Inc stock
Univec Inc finds support from accumulated volume at $0.0050 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0004 between high and low, or 7.84%. For the last week, the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: $0.0049 (-4.23%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (UNVC) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Univec Inc to open at $0.0052, and during the day (based on 14 day Average True Range), to move between $0.0043 and $0.0059, which gives a possible trading interval of +/-$0.0008 (+/-15.34%) up or down from last closing price. If Univec Inc takes out the full calculated possible swing range there will be an estimated 30.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0050 (1.96%) than the resistance at $0.0053 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Univec Inc stock A Buy?
Univec Inc 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.349 Hold/Accumulate Downgraded
Predicted Opening Price for Univec Inc of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $0.0052 ( 2.61%) | $0.0051 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNVC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0056 | 10.46% |
| R2 | 0.0055 | 7.46% |
| R1 | 0.0054 | 5.61% |
| Price | 0.0051 | |
| S1 | 0.0051 | -0.382% |
| S2 | 0.0050 | -2.23% |
| S3 | 0.0048 | -5.23% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0056 | 9.80% |
| R2 | 0.0055 | 7.84% |
| R1 | 0.0053 | 3.92% |
| Price | 0.0051 | |
| S1 | 0.0050 | -1.96% |
| S2 | 0.0045 | -11.76% |
| S3 | 0.0041 | -19.61% |
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