Universal Security Instruments, Inc Stock Forecast
Weaker technical forecast for Universal Security Instruments, Inc as stock downgraded to Sell Candidate.
(Updated on Apr 30, 2024)
The Universal Security Instruments, Inc stock price fell by -4.40% on the last day (Tuesday, 30th Apr 2024) from $1.59 to $1.52. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 6.67% from a day low at $1.50 to a day high of $1.60. The price has fallen in 8 of the last 10 days and is down by -7.31% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 11 thousand shares were bought and sold for approximately $16.15 thousand.
Given the current short-term trend, the stock is expected to rise 16.67% during the next 3 months and, with a 90% probability hold a price between $1.77 and $2.07 at the end of this 3-month period.
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UUU Signals & Forecast
There are few to no technical positive signals at the moment. The Universal Security Instruments, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.60 and $1.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -11.13%. 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). Universal Security Instruments, Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Universal Security Instruments, Inc stock
Universal Security Instruments, Inc finds support from accumulated volume at $1.49 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.100 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UUU) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Universal Security Instruments, Inc to open at $1.54, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.59, which gives a possible trading interval of +/-$0.0705 (+/-4.64%) up or down from last closing price. If Universal Security Instruments, Inc takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.49 (1.98%) than the resistance at $1.56 (2.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Universal Security Instruments, Inc stock A Buy?
The Universal Security Instruments, Inc stock holds several negative signals and despite the positive trend, we believe Universal Security Instruments, Inc will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.760 Sell Candidate Downgraded
Predicted Opening Price for Universal Security Instruments, Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $1.54 ( 1.31%) | $1.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UUU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.64 | 7.89 % | |
| R2 | 1.60 | 5.38 % | ||
| R1 | 1.58 | 3.82 % | ||
| Current price: | 1.52 | |||
| Support | S1 | 1.50 | -1.20 % | |
| S2 | 1.48 | -2.75 % | ||
| S3 | 1.44 | -5.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.63 | 7.23 % | |
| R2 | 1.61 | 5.91 % | ||
| R1 | 1.56 | 2.62 % | ||
| Current price | 1.52 | |||
| Support | S1 | 1.49 | -1.98% | |
| S2 | 1.48 | -2.64% | ||
| S3 | 1.45 | -4.61% |
FAQ
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