Upbound Group, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Upbound Group, Inc. stock upgraded to Buy Candidate.
(Updated on May 10, 2024)
The Upbound Group, Inc. stock price fell by -0.0306% on the last day (Friday, 10th May 2024) from $32.66 to $32.65. During the last trading day the stock fluctuated 1.52% from a day low at $32.27 to a day high of $32.76. The price has risen in 6 of the last 10 days and is up by 0.74% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 thousand shares and in total, 261 thousand shares were bought and sold for approximately $8.53 million.
The stock lies in the middle of a 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 -6.01% during the next 3 months and, with a 90% probability hold a price between $28.36 and $32.10 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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UPBD Signals & Forecast
The Upbound Group, 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 $31.78 and $32.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 7.47%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Upbound Group, Inc. stock
Upbound Group, Inc. finds support from accumulated volume at $31.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.490 (1.52%) between high and low. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $31.42 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (UPBD) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Upbound Group, Inc. to open at $32.56, and during the day (based on 14 day Average True Range), to move between $31.70 and $33.60, which gives a possible trading interval of +/-$0.95 (+/-2.90%) up or down from last closing price. If Upbound Group, Inc. takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.20 (1.68%) than the support at $31.83 (2.51%), 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 Upbound Group, Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.597 Buy Candidate Upgraded
Predicted Opening Price for Upbound Group, Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $32.56 ( 0.276%) | $32.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UPBD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.05 | 1.23 % | |
| R2 | 32.86 | 0.652 % | ||
| R1 | 32.75 | 0.298 % | ||
| Current price: | 32.65 | |||
| Support | S1 | 32.37 | -0.85 % | |
| S2 | 32.26 | -1.20 % | ||
| S3 | 32.07 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.01 | 7.23 % | |
| R2 | 33.45 | 2.45 % | ||
| R1 | 33.20 | 1.68 % | ||
| Current price | 32.65 | |||
| Support | S1 | 31.83 | -2.51% | |
| S2 | 31.62 | -3.15% | ||
| S3 | 30.38 | -6.95% |
UPBD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Apr 02, 2024 | Apr 22, 2024 | $0.370 | 1.19% |
| 2 | Dec 05, 2023 | Dec 18, 2023 | Jan 09, 2024 | $0.370 | 1.13% |
| 3 | Sep 21, 2023 | Oct 02, 2023 | Oct 24, 2023 | $0.340 | 1.31% |
| 4 | Jun 07, 2023 | Jun 16, 2023 | Jul 11, 2023 | $0.340 | 1.08% |
| 5 | Mar 23, 2023 | Apr 04, 2023 | Apr 24, 2023 | $0.340 | 1.45% |
FAQ
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