UTStarcom Holdings Corp Stock Forecast
Red day on Wednesday for UTStarcom Holdings Corp
(Updated on Apr 24, 2024)
The UTStarcom Holdings Corp stock price fell by -1.47% on the last day (Wednesday, 24th Apr 2024) from $2.73 to $2.69. During the last trading day the stock fluctuated 2.23% from a day low at $2.69 to a day high of $2.75. The price has fallen in 6 of the last 10 days but is still up by 2.28% 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 -261 shares and in total, 405 shares were bought and sold for approximately $1.09 thousand.
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 -11.30% during the next 3 months and, with a 90% probability hold a price between $2.04 and $2.50 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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UTSI Signals & Forecast
The UTStarcom Holdings Corp 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 $2.67 and $2.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 4.26%. 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 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. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, March 22, 2024 and based on theory for this formation the price should go up by 2.73% to $2.76 within 18 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for UTStarcom Holdings Corp stock
UTStarcom Holdings Corp finds support from accumulated volume at $2.65 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0600 between high and low, or 2.23%. For the last week the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: $2.54 (-5.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (UTSI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect UTStarcom Holdings Corp to open at $2.71, and during the day (based on 14 day Average True Range), to move between $2.51 and $2.87, which gives a possible trading interval of +/-$0.179 (+/-6.66%) up or down from last closing price. If UTStarcom Holdings Corp takes out the full calculated possible swing range there will be an estimated 13.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.70 (0.37%) than the support at $2.65 (1.49%), 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 UTStarcom Holdings Corp 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.
Current score: 1.060 Buy Candidate Unchanged
Predicted Opening Price for UTStarcom Holdings Corp of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $2.71 ( 0.743%) | $2.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.77 | 2.97 % | |
| R2 | 2.75 | 2.12 % | ||
| R1 | 2.73 | 1.60 % | ||
| Current price: | 2.69 | |||
| Support | S1 | 2.69 | -0.109 % | |
| S2 | 2.67 | -0.635 % | ||
| S3 | 2.65 | -1.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.01 | 11.89 % | |
| R2 | 2.79 | 3.72 % | ||
| R1 | 2.70 | 0.372 % | ||
| Current price | 2.69 | |||
| Support | S1 | 2.65 | -1.49% | |
| S2 | 2.62 | -2.60% | ||
| S3 | 2.58 | -4.09% |
FAQ
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