UTStarcom Holdings Corp Stock Forecast
UTStarcom Holdings Corp stock price took a fall of -7.61% on Friday
(Updated on Apr 26, 2024)
The UTStarcom Holdings Corp stock price fell by -7.61% on the last day (Friday, 26th Apr 2024) from $2.98 to $2.75. During the last trading day the stock fluctuated 2.55% from a day low at $2.75 to a day high of $2.82. The price has fallen in 6 of the last 10 days but is still up by 1.85% 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 -317 shares and in total, 5 thousand shares were bought and sold for approximately $12.59 thousand.
The stock lies in the middle of a very 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 -8.71% during the next 3 months and, with a 90% probability hold a price between $2.15 and $2.71 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 $2.73 and $2.66. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -7.61%. 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. 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 0.490% to $2.76 within 18 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for UTStarcom Holdings Corp stock
UTStarcom Holdings Corp finds support from accumulated volume at $2.70 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 2.55%. For the last week the stock has had daily average volatility of 5.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTSI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect UTStarcom Holdings Corp to open at $2.77, and during the day (based on 14 day Average True Range), to move between $2.56 and $2.94, which gives a possible trading interval of +/-$0.193 (+/-7.02%) up or down from last closing price. If UTStarcom Holdings Corp takes out the full calculated possible swing range there will be an estimated 14.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.75 (0.00%) than the support at $2.70 (1.81%), 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?
UTStarcom Holdings Corp 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 Buy to a Sell candidate.
Current score: -1.275 Sell Candidate Downgraded
Predicted Opening Price for UTStarcom Holdings Corp of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $2.77 ( 0.85%) | $2.75 |
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 | 2.84 | 3.39 % | |
| R2 | 2.82 | 2.42 % | ||
| R1 | 2.80 | 1.82 % | ||
| Current price: | 2.75 | |||
| Support | S1 | 2.75 | -0.124 % | |
| S2 | 2.73 | -0.725 % | ||
| S3 | 2.70 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.01 | 9.45 % | |
| R2 | 2.79 | 1.46 % | ||
| R1 | 2.75 | 0.0036 % | ||
| Current price | 2.75 | |||
| Support | S1 | 2.70 | -1.81% | |
| S2 | 2.65 | -3.63% | ||
| S3 | 2.58 | -6.18% |
FAQ
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