Wheels Up Experience Inc. Stock Forecast
High volatility in Wheels Up Experience Inc. stock price on Tuesday which ended trading at $3.02
(Updated on Jul 02, 2024)
The Wheels Up Experience Inc. stock price gained 36.04% on the last trading day (Tuesday, 2nd Jul 2024), rising from $2.22 to $3.02. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 68.94% from a day low at $2.18 to a day high of $3.68. The price has risen in 7 of the last 10 days and is up by 59.79% 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, 12 million more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $40.23 million.
Given the current short-term trend, the stock is expected to fall -19.54% during the next 3 months and, with a 90% probability hold a price between $1.25 and $2.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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UP Signals & Forecast
The Wheels Up Experience Inc. 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 $2.04 and $2.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 83.03%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Wheels Up Experience Inc. stock
Wheels Up Experience Inc. finds support from accumulated volume at $2.88 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 $1.50 between high and low, or 68.94%. For the last week, the stock has had daily average volatility of 23.24%.
The Wheels Up Experience Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $2.91 (-3.48%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (UP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Wheels Up Experience Inc. to open at $2.96, and during the day (based on 14 day Average True Range), to move between $2.73 and $3.31, which gives a possible trading interval of +/-$0.291 (+/-9.62%) up or down from last closing price. If Wheels Up Experience Inc. takes out the full calculated possible swing range there will be an estimated 19.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.03 (0.33%) than the support at $2.88 (4.64%), 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 Wheels Up Experience Inc. stock A Buy?
Wheels Up Experience 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Wheels Up Experience Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $2.96 ( 2.09%) | $3.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.46 | 47.57% |
| R2 | 3.88 | 28.60% |
| R1 | 3.53 | 16.88% |
| Price | 3.02 | |
| S1 | 2.38 | -21.06% |
| S2 | 2.03 | -32.78% |
| S3 | 1.46 | -51.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 3.03 | 0.331% |
| Price | 3.02 | |
| S1 | 2.88 | -4.64% |
| S2 | 2.66 | -11.92% |
| S3 | 2.27 | -24.83% |
FAQ
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