Ultrapetrol (Bahamas) Limited ETF Forecast
Green day on Friday for Ultrapetrol (Bahamas) Limited
(Updated on Feb 07, 2020)
The Ultrapetrol (Bahamas) Limited ETF price gained 0.0100% on the last trading day (Friday, 7th Feb 2020), rising from $50.16 to $50.17. During the last trading day the ETF fluctuated 0.0100% from a day low at $50.17 to a day high of $50.17. The price has risen in 8 of the last 10 days and is up by 0.05% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $165.54 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ultrapetrol (Bahamas) Limited ETF with a 90% probability to be traded between $50.23 and $50.32 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ULTR Signals & Forecast
The Ultrapetrol (Bahamas) Limited ETF 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 $50.16 and $50.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 05, 2020, and so far it has risen 0.110%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Wednesday, January 08, 2020 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Ultrapetrol (Bahamas) Limited ETF
Ultrapetrol (Bahamas) Limited finds support from accumulated volume at $50.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.0050 between high and low, or 0.0100%. For the last week the ETF has had daily average volatility of 0.0379%
Our recommended stop-loss: $47.58 (-5.15%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ULTR) For The Upcoming Trading Day Of Monday 10th
For the upcoming trading day on Monday, 10th we expect Ultrapetrol (Bahamas) Limited to open at $50.17, and during the day (based on 14 day Average True Range), to move between $50.14 and $50.19, which gives a possible trading interval of +/-$0.0271 (+/-0.05%) up or down from last closing price. If Ultrapetrol (Bahamas) Limited takes out the full calculated possible swing range there will be an estimated 0.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.18 (0.02%) than the support at $50.11 (0.11%), 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 Ultrapetrol (Bahamas) Limited ETF 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 Ultrapetrol (Bahamas) Limited ETF to perform well in the short-term period.
Current score: 4.959 Buy Candidate Unchanged
Predicted Opening Price for Ultrapetrol (Bahamas) Limited of Monday, February 10, 2020
| Fair opening price February 10, 2020 | Current price |
|---|---|
| $50.17 ( 0.0033%) | $50.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ULTR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.17 | 0.0133 % | |
| R2 | 50.17 | 0.0095 % | ||
| R1 | 50.17 | 0.0071 % | ||
| Current price: | 50.17 | |||
| Support | S1 | 50.16 | -0.0005 % | |
| S2 | 50.16 | -0.0028 % | ||
| S3 | 50.16 | -0.0066 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.19 | 0.0399 % | |
| R2 | 50.18 | 0.0299 % | ||
| R1 | 50.18 | 0.0199 % | ||
| Current price | 50.17 | |||
| Support | S1 | 50.11 | -0.110% | |
| S2 | 50.10 | -0.130% | ||
| S3 | 50.08 | -0.169% |
FAQ
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