Universal Music Group N.V. Stock Forecast
Green day on Friday for Universal Music Group N.V.
(Updated on May 31, 2024)
The Universal Music Group N.V. stock price gained 2.11% on the last trading day (Friday, 31st May 2024), rising from $15.15 to $15.47. During the last trading day the stock fluctuated 1.40% from a day low at $15.26 to a day high of $15.47. The price has been going up and down for this period, and there has been a 0.65% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 51 thousand more shares were traded than the day before. In total, 89 thousand shares were bought and sold for approximately $1.38 million.
The stock lies in the middle of a 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 5.59% during the next 3 months and, with a 90% probability hold a price between $15.38 and $16.85 at the end of this 3-month period.
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UNVGY Signals & Forecast
The Universal Music Group N.V. 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 $15.37 and $15.02. A breakdown below any of these levels will issue sell signals. Universal Music Group N.V. 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. Higher liquidity also reduces the general risk. 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 Wednesday, May 08, 2024, and so far it has fallen -1.73%. 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 Universal Music Group N.V. stock
Universal Music Group N.V. finds support from accumulated volume at $15.25 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.214 between high and low, or 1.40%. For the last week the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $14.83 (-4.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (UNVGY) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Universal Music Group N.V. to open at $15.40, and during the day (based on 14 day Average True Range), to move between $15.14 and $15.80, which gives a possible trading interval of +/-$0.326 (+/-2.11%) up or down from last closing price. If Universal Music Group N.V. takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.51 (0.26%) than the support at $15.25 (1.42%), 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 Universal Music Group N.V. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Universal Music Group N.V. stock to perform well in the short-term.
Current score: 2.541 Buy Candidate Unchanged
Predicted Opening Price for Universal Music Group N.V. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $15.40 ( 0.461%) | $15.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNVGY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.61 | 0.92 % | |
| R2 | 15.53 | 0.394 % | ||
| R1 | 15.48 | 0.0673 % | ||
| Current price: | 15.47 | |||
| Support | S1 | 15.32 | -0.99 % | |
| S2 | 15.27 | -1.32 % | ||
| S3 | 15.18 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.72 | 1.62 % | |
| R2 | 15.66 | 1.23 % | ||
| R1 | 15.51 | 0.259 % | ||
| Current price | 15.47 | |||
| Support | S1 | 15.25 | -1.42% | |
| S2 | 14.74 | -4.72% | ||
| S3 | 14.17 | -8.40% |
UNVGY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 27, 2024 | $0.0934 | 0.604% |
| 2 | Sep 04, 2023 | Oct 04, 2023 | Nov 13, 2023 | $0.126 | 1.01% |
| 3 | May 19, 2023 | May 19, 2023 | Nov 10, 2023 | $0.144 | 1.14% |
| 4 | Oct 06, 2022 | Oct 06, 2022 | Nov 14, 2022 | $0.119 | 1.06% |
| 5 | Oct 05, 2022 | Oct 05, 2022 | Nov 14, 2022 | $0.240 | 2.14% |
FAQ
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