Universal Display Corporation Forecast and Stock Analysis
Technical OLED stock analysis for March 15, 2019.
Universal Display Corporation gained 0.85% in the last trading day, rising from $154.80 to $156.11 The price has risen in 6 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.58 million more shares were traded than the day before. In total, 1.03 million shares bought and sold for approximately $161.43 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the OLED stock was $156.11. This is 0.85% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 3.53% from a day low at $155.67 to a day high of $161.16.
30 day high of the OLED stock price was $161.16 and low was $115.62.
90 day high was $161.16 and low was $78.78.
52 week high for the Universal Display Corporation - $161.16 and low - $78.75.
Universal Display Corporation lies in the upper part of a wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $159.31 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 94.36% during the next 3 months and, with 90% probability hold a price between $275.73 and $309.64 at the end of this period.
Only positive signals in the chart today. Universal Display Corporation holds buy signals from both short- and long-term moving averages. In addition, 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 $152.72 and $129.10. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 66 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $147.26 and $145.77.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Universal Display Corporation finds support just below today's level at $147.26. If this is broken, then the next support from accumulated volume will be at $145.77 and $144.45.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $5.49 between high and low, or 3.53%. For the last week, the stock has had a daily average volatility of 2.63%.
Our recommended stoploss: $148.49 (-4.88%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 37 days ago.)
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Evaluation: Strong Buy Candidate
Universal Display Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.