Today UMC ranks # as BUY CANDIDATE.
Today UMC ranks # as BUY CANDIDATE.

UMC stock United Microelectronics Corporation

UMC stock
United Microelectronics Corporation

18 January 2019
Change 1.65%
Chart period: 2018-10-19 - 2019-01-18
VOLUME
Sell
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy
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United Microelectronics Corporation Stock Analysis

Technical stock analysis for 18 January 2019

Buy candidate since 2019-01-15 Gain 2.78%
Shorts 3.07% ( 2018-12-31 )
Cash n/a
Loans n/a
Beta 0.80
ROA 2.79

United Microelectronics Corporation gained 1.65% in the last trading day, rising from $1.82 to $1.85 , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 6 of the last 10 days and is up by 7.56% over the past 2 weeks. Volume fell in the last day by -176 634 shares, and in total, 352 685 shares bought and sold for approximately $652 467.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Close price at the end of the last trading day (Friday, 18th Jan 2019) of the UMC stock was $1.85. This is 1.65% more than the trading day before Thursday, 17th Jan 2019.

During day the stock fluctuated 2.20% from a day low at $1.82 to a day high of $1.86.

30 day high of the UMC stock price was $1.86 and low was $1.69.
90 day high was $2.13 and low was $1.64.
52 week high for the United Microelectronics Corporation - $3.14 and low - $1.64.

Trend

United Microelectronics Corporation has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $1.83, a level that may pose a second chance to hit a runner. According to fan-theory $2.10 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.

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Signals

United Microelectronics 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 $1.81 and $1.79. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday January 14, 2019, which indicates further gains until a new top pivot has been found. 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.

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A sell signal from a double top formation was found on Thursday January 10, 2019 and based on theory for this formation the price should fall by -0.18% to $1.63 within 9 trading days since signal was issued (Thursday January 24, 2019).

Relative Strength Index (RSI)

RSI14 is 63 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

United Microelectronics Corporation finds support from accumulated volume at $1.81.

Support: $1.81 Price: $1.85 Resistance: $1.87

Risk

In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.

Our recommended stoploss: $1.77 (-4.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)

Overall risk:

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Evaluation

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Today UMC ranks # as BUY CANDIDATE.
Today UMC ranks # as BUY CANDIDATE.