UTZ Brands Inc Stock Forecast
UTZ Brands Inc stock downgraded from Sell Candidate to Strong Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The UTZ Brands Inc stock price fell by -1.62% on the last day (Tuesday, 2nd Jul 2024) from $16.64 to $16.37. During the last trading day the stock fluctuated 2.70% from a day low at $16.28 to a day high of $16.72. The price has fallen in 7 of the last 10 days and is down by -8.85% for this period. 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 -63 thousand shares and in total, 433 thousand shares were bought and sold for approximately $7.09 million.
Given the current horizontal trend, you can expect UTZ Brands Inc stock with a 90% probability to be traded between $16.06 and $18.93 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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UTZ Signals & Forecast
There are few to no technical positive signals at the moment. The UTZ Brands Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.80 and $17.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -16.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 UTZ Brands Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.440 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 2.39%.
UTZ Brands Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTZ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect UTZ Brands Inc to open at $16.46, and during the day (based on 14 day Average True Range), to move between $15.93 and $16.81, which gives a possible trading interval of +/-$0.437 (+/-2.67%) up or down from last closing price. If UTZ Brands Inc takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $16.64, some $0.270 (1.65%) from the current price of $16.37, our system finds the risk reward not very attractive.
Is UTZ Brands Inc stock A Buy?
UTZ Brands Inc holds several negative signals and is within a wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.
Current score: -5.108 Strong Sell Candidate Downgraded
Predicted Opening Price for UTZ Brands Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $16.46 ( 0.529%) | $16.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.90 | 3.22% |
| R2 | 16.73 | 2.19% |
| R1 | 16.62 | 1.56% |
| Price | 16.37 | |
| S1 | 16.29 | -0.497% |
| S2 | 16.18 | -1.13% |
| S3 | 16.02 | -2.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.55 | 19.43% |
| R2 | 18.10 | 10.57% |
| R1 | 16.64 | 1.65% |
| Price | 16.37 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
UTZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jul 03, 2024 | $0.0590 | 0.360% |
| 2 | Mar 28, 2024 | Apr 12, 2024 | May 02, 2024 | $0.0590 | 0.302% |
| 3 | Dec 15, 2023 | Dec 15, 2023 | Jan 04, 2024 | $0.0570 | 0.330% |
| 4 | Sep 07, 2023 | Sep 15, 2023 | Oct 05, 2023 | $0.0570 | 0.469% |
| 5 | Jun 09, 2023 | Jun 15, 2023 | Jul 06, 2023 | $0.0570 | 0.354% |
FAQ
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