Universal Corporation Stock Forecast
Green day on Thursday for Universal Corporation stock after gaining 1.23%
(Updated on May 02, 2024)
The Universal Corporation stock price gained 1.23% on the last trading day (Thursday, 2nd May 2024), rising from $52.20 to $52.84. During the last trading day the stock fluctuated 1.79% from a day low at $52.17 to a day high of $53.11. The price has risen in 6 of the last 10 days and is up by 4.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 thousand more shares were traded than the day before. In total, 165 thousand shares were bought and sold for approximately $8.73 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 Universal Corporation stock with a 90% probability to be traded between $45.99 and $55.81 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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UVV Signals & Forecast
Mostly positive signals in the chart today. The Universal Corporation 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 $51.72 and $50.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 10.68%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Universal Corporation stock
Universal Corporation finds support from accumulated volume at $51.91 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 $0.93 (1.79%) between high and low. For the last week, the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: $50.99 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (UVV) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Universal Corporation to open at $52.71, and during the day (based on 14 day Average True Range), to move between $51.72 and $53.96, which gives a possible trading interval of +/-$1.12 (+/-2.12%) up or down from last closing price. If Universal Corporation takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $53.58 (1.40%) than the support at $51.91 (1.76%), 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 Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Universal Corporation stock to perform well in the short-term period.
Current score: 3.740 Buy Candidate Unchanged
Predicted Opening Price for Universal Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $52.71 ( 0.255%) | $52.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UVV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.64 | 1.51 % | |
| R2 | 53.28 | 0.84 % | ||
| R1 | 53.06 | 0.420 % | ||
| Current price: | 52.84 | |||
| Support | S1 | 52.35 | -0.93 % | |
| S2 | 52.13 | -1.35 % | ||
| S3 | 51.77 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.05 | 9.86 % | |
| R2 | 58.02 | 9.80 % | ||
| R1 | 53.58 | 1.40 % | ||
| Current price | 52.84 | |||
| Support | S1 | 51.91 | -1.76% | |
| S2 | 51.87 | -1.84% | ||
| S3 | 50.89 | -3.69% |
UVV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 05, 2024 | Apr 05, 2024 | May 06, 2024 | $0.80 | 1.51% |
| 2 | Nov 02, 2023 | Jan 05, 2024 | Feb 05, 2024 | $0.80 | 1.38% |
| 3 | Aug 02, 2023 | Oct 05, 2023 | Nov 06, 2023 | $0.80 | 1.56% |
| 4 | May 24, 2023 | Jul 07, 2023 | Aug 07, 2023 | $0.80 | 1.63% |
| 5 | Feb 01, 2023 | Apr 06, 2023 | May 01, 2023 | $0.790 | 1.45% |
FAQ
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