United Fire Group Stock Forecast

Red day on Thursday for United Fire Group stock after losing 1.28%
(Updated on Apr 25, 2024)

UFCS Signals & Forecast

The United Fire Group stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $22.44. On a fall, the stock will find some support from the long-term average at approximately $21.95. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 4.82%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. United Fire Group 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".

Support, Risk & Stop-loss for United Fire Group stock

United Fire Group finds support from accumulated volume at $22.09 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 $0.220 (0.99%) between high and low. For the last week, the stock has had daily average volatility of 1.65%.

Our recommended stop-loss: $21.49 (-4.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (UFCS) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect United Fire Group to open at $22.43, and during the day (based on 14 day Average True Range), to move between $21.93 and $22.91, which gives a possible trading interval of +/-$0.487 (+/-2.17%) up or down from last closing price. If United Fire Group takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.09 (1.47%) than the resistance at $24.32 (8.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is United Fire Group 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.

Current score: 2.629 Buy Candidate Unchanged

Predicted Opening Price for United Fire Group of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.