Ultrack Systems Stock Forecast
Big movements in Ultrack Systems stock price on Wednesday moving 33.33% between high and low
(Updated on Apr 24, 2024)
The Ultrack Systems stock price gained 6.67% on the last trading day (Wednesday, 24th Apr 2024), rising from $0.0002 to $0.0002. During the last trading day the stock fluctuated 33.33% from a day low at $0.0002 to a day high of $0.0002. The price has risen in 4 of the last 10 days but is still down by -20% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $160.22 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -32.71% during the next 3 months and, with a 90% probability hold a price between $0.00002768 and $0.0001 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MJLB Signals & Forecast
Mostly positive signals in the chart today. The Ultrack Systems 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 $0.0002 and $0.0001. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 60.00%. 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). Ultrack Systems has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 45.83% to $0.0002 within 6 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Ultrack Systems stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0002 and $0.0001. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0001 may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.00005 between high and low, or 33.33%. For the last week, the stock has had daily average volatility of 36.67%.
Our recommended stop-loss: $0.0002 (-3.98%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (MJLB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Ultrack Systems to open at $0.0002, and during the day (based on 14 day Average True Range), to move between $0.00008611 and $0.0002, which gives a possible trading interval of +/-$0.00007389 (+/-46.18%) up or down from last closing price. If Ultrack Systems takes out the full calculated possible swing range there will be an estimated 92.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.0002, some $0.00001 (6.25%) from the current price of $0.0002, our system finds the risk reward attractive.
Is Ultrack Systems stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.704 Buy Candidate Upgraded
Predicted Opening Price for Ultrack Systems of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.0002 ( 6.25%) | $0.0002 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MJLB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0002 | 37.50 % | |
| R2 | 0.0002 | 25.56 % | ||
| R1 | 0.0002 | 18.19 % | ||
| Current price: | 0.0002 | |||
| Support | S1 | 0.0002 | -5.69 % | |
| S2 | 0.0001 | -13.06 % | ||
| S3 | 0.0001 | -25.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.0002 | |||
| Support | S1 | 0.0002 | -6.25% | |
| S2 | 0.0001 | -12.50% | ||
| S3 | 0 | . |
FAQ
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