Upland Software Stock Forecast
Weaker technical forecast for Upland Software as stock downgraded to Sell Candidate.
(Updated on Mar 27, 2024)
The Upland Software stock price fell by -0.328% on the last day (Wednesday, 27th Mar 2024) from $3.05 to $3.04. During the last trading day the stock fluctuated 3.70% from a day low at $2.98 to a day high of $3.09. The price has risen in 9 of the last 10 days and is up by 28.81% 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 -11 thousand shares and in total, 169 thousand shares were bought and sold for approximately $513.61 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3.02, a level that may pose a second chance to hit a runner. According to fan-theory $4.00 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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UPLD Signals & Forecast
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. The Upland Software stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.28. On a fall, the stock will find some support from the short-term average at $2.84. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -0.328%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Upland Software stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.82 and $2.64. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Upland Software finds support just below today's level at $2.82. If this is broken, then the next support from accumulated volume will be at $2.64 and $2.47.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 3.70%. For the last week the stock has had daily average volatility of 6.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UPLD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Upland Software to open at $3.03, and during the day (based on 14 day Average True Range), to move between $2.83 and $3.25, which gives a possible trading interval of +/-$0.213 (+/-6.99%) up or down from last closing price. If Upland Software takes out the full calculated possible swing range there will be an estimated 13.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.05 (0.33%) than the support at $2.82 (7.24%), 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 Upland Software stock A Buy?
Upland Software holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.222 Sell Candidate Downgraded
Predicted Opening Price for Upland Software of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$3.03 ( 0.219%) | $3.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UPLD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.14 | 3.40 % | |
R2 | 3.10 | 2.02 % | ||
R1 | 3.08 | 1.16 % | ||
Current price: | 3.04 | |||
Support | S1 | 2.99 | -1.60 % | |
S2 | 2.97 | -2.46 % | ||
S3 | 2.92 | -3.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 3.78 | 24.34 % | ||
R1 | 3.05 | 0.329 % | ||
Current price | 3.04 | |||
Support | S1 | 2.82 | -7.24% | |
S2 | 2.64 | -13.16% | ||
S3 | 2.47 | -18.75% |
FAQ
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