UTZ Brands Inc Stock Forecast
Evaluation of UTZ Brands Inc stock downgraded after the last trading session.
(Updated on May 08, 2024)
The UTZ Brands Inc stock price fell by -2.21% on the last day (Wednesday, 8th May 2024) from $18.97 to $18.55. During the last trading day the stock fluctuated 3.15% from a day low at $18.43 to a day high of $19.01. The price has fallen in 6 of the last 10 days and is down by -1.01% 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 -142 thousand shares and in total, 600 thousand shares were bought and sold for approximately $11.13 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect UTZ Brands Inc stock with a 90% probability to be traded between $16.67 and $19.25 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
The UTZ Brands Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $18.82. On a fall, the stock will find some support from the long-term average at approximately $18.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, May 02, 2024, and so far it has fallen -5.12%. Further fall is indicated until a new bottom pivot has been found. 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
UTZ Brands Inc finds support from accumulated volume at $18.13 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 $0.580 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 5.16%.
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 Thursday 9th
For the upcoming trading day on Thursday, 9th we expect UTZ Brands Inc to open at $18.66, and during the day (based on 14 day Average True Range), to move between $17.91 and $19.19, which gives a possible trading interval of +/-$0.639 (+/-3.45%) up or down from last closing price. If UTZ Brands Inc takes out the full calculated possible swing range there will be an estimated 6.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.13 (2.26%) than the resistance at $19.04 (2.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UTZ Brands Inc stock A Buy?
UTZ Brands Inc 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: -1.126 Sell Candidate Downgraded
Predicted Opening Price for UTZ Brands Inc of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $18.66 ( 0.611%) | $18.55 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 19.24 | 3.74 % | |
| R2 | 19.02 | 2.54 % | ||
| R1 | 18.88 | 1.81 % | ||
| Current price: | 18.55 | |||
| Support | S1 | 18.44 | -0.583 % | |
| S2 | 18.30 | -1.32 % | ||
| S3 | 18.08 | -2.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.55 | 5.39 % | |
| R2 | 19.24 | 3.72 % | ||
| R1 | 19.04 | 2.64 % | ||
| Current price | 18.55 | |||
| Support | S1 | 18.13 | -2.26% | |
| S2 | 17.69 | -4.64% | ||
| S3 | 17.52 | -5.55% |
UTZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Apr 12, 2024 | May 02, 2024 | $0.0590 | 0.302% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Jan 04, 2024 | $0.0570 | 0.330% |
| 3 | Sep 07, 2023 | Sep 15, 2023 | Oct 05, 2023 | $0.0570 | 0.469% |
| 4 | Jun 09, 2023 | Jun 15, 2023 | Jul 06, 2023 | $0.0570 | 0.354% |
| 5 | Apr 06, 2023 | Apr 14, 2023 | May 04, 2023 | $0.0570 | 0.315% |
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