UNIVERSAL INSURANCE HOLDINGS INC Stock Forecast
Red day on Tuesday for UNIVERSAL INSURANCE HOLDINGS INC
(Updated on Apr 30, 2024)
The UNIVERSAL INSURANCE HOLDINGS INC stock price fell by -0.510% on the last day (Tuesday, 30th Apr 2024) from $19.62 to $19.52. During the last trading day the stock fluctuated 1.74% from a day low at $19.50 to a day high of $19.84. The price has risen in 7 of the last 10 days and is up by 1.77% 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 -77 thousand shares and in total, 177 thousand shares were bought and sold for approximately $3.46 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.80% during the next 3 months and, with a 90% probability hold a price between $21.49 and $26.77 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UVE Signals & Forecast
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. The UNIVERSAL INSURANCE HOLDINGS 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 $19.88 and $19.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -7.44%. 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 UNIVERSAL INSURANCE HOLDINGS INC stock
UNIVERSAL INSURANCE HOLDINGS INC finds support from accumulated volume at $19.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.340 (1.74%) between high and low. For the last week, the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UVE) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect UNIVERSAL INSURANCE HOLDINGS INC to open at $19.62, and during the day (based on 14 day Average True Range), to move between $18.85 and $20.19, which gives a possible trading interval of +/-$0.671 (+/-3.44%) up or down from last closing price. If UNIVERSAL INSURANCE HOLDINGS INC takes out the full calculated possible swing range there will be an estimated 6.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.61 (0.46%) than the support at $19.11 (2.10%), 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 UNIVERSAL INSURANCE HOLDINGS INC stock A Buy?
The UNIVERSAL INSURANCE HOLDINGS INC stock holds several negative signals and despite the positive trend, we believe UNIVERSAL INSURANCE HOLDINGS INC will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.462 Sell Candidate Unchanged
Predicted Opening Price for UNIVERSAL INSURANCE HOLDINGS INC of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $19.62 ( 0.512%) | $19.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.96 | 2.25 % | |
| R2 | 19.83 | 1.59 % | ||
| R1 | 19.75 | 1.18 % | ||
| Current price: | 19.52 | |||
| Support | S1 | 19.49 | -0.153 % | |
| S2 | 19.41 | -0.564 % | ||
| S3 | 19.28 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.09 | 8.04 % | |
| R2 | 20.90 | 7.07 % | ||
| R1 | 19.61 | 0.461 % | ||
| Current price | 19.52 | |||
| Support | S1 | 19.11 | -2.10% | |
| S2 | 18.85 | -3.43% | ||
| S3 | 17.40 | -10.86% |
UVE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 17, 2024 | $0.160 | 0.82% |
| 2 | Feb 08, 2024 | Mar 07, 2024 | Mar 15, 2024 | $0.160 | 0.81% |
| 3 | Nov 15, 2023 | Dec 07, 2023 | Dec 15, 2023 | $0.130 | 0.81% |
| 4 | Jul 20, 2023 | Aug 03, 2023 | Aug 11, 2023 | $0.160 | 1.13% |
| 5 | Apr 12, 2023 | May 11, 2023 | Aug 11, 2023 | $0.160 | 1.13% |
FAQ
Click here for our free guide on how to buy UNIVERSAL INSURANCE HOLDINGS INC Stock.
