USANA Health Sciences Inc Stock Forecast
USANA Health Sciences Inc stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The USANA Health Sciences Inc stock price gained 3.40% on the last trading day (Thursday, 2nd May 2024), rising from $45.55 to $47.10. During the last trading day the stock fluctuated 3.71% from a day low at $45.74 to a day high of $47.43. The price has risen in 6 of the last 10 days and is up by 8.35% over the past 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 101 thousand shares were bought and sold for approximately $4.78 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the 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 $46.59, a level that may pose a second chance to hit a runner. According to fan-theory $51.87 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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USNA Signals & Forecast
The USANA Health Sciences 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 $43.92 and $45.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 13.44%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for USANA Health Sciences Inc stock
USANA Health Sciences Inc finds support from accumulated volume at $46.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.70 between high and low, or 3.71%. For the last week, the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: $45.57 (-3.24%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (USNA) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect USANA Health Sciences Inc to open at $46.76, and during the day (based on 14 day Average True Range), to move between $45.65 and $48.55, which gives a possible trading interval of +/-$1.45 (+/-3.07%) up or down from last closing price. If USANA Health Sciences Inc takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $46.64 (0.98%) than the resistance at $48.50 (2.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is USANA Health Sciences Inc stock A Buy?
USANA Health Sciences 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.632 Hold/Accumulate Upgraded
Predicted Opening Price for USANA Health Sciences Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $46.76 ( 0.732%) | $47.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USNA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.45 | 2.87 % | |
| R2 | 47.80 | 1.49 % | ||
| R1 | 47.40 | 0.642 % | ||
| Current price: | 47.10 | |||
| Support | S1 | 46.11 | -2.11 % | |
| S2 | 45.71 | -2.96 % | ||
| S3 | 45.06 | -4.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.11 | 6.39 % | |
| R2 | 49.00 | 4.03 % | ||
| R1 | 48.50 | 2.97 % | ||
| Current price | 47.10 | |||
| Support | S1 | 46.64 | -0.98% | |
| S2 | 45.55 | -3.29% | ||
| S3 | 45.44 | -3.52% |
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