UMC - United Microelectronics Corporation

Industry: Semiconductor Equipment & Materials Sector: Technology Exchange: NYSE

UMC - United Microelectronics Corporation

Industry: Semiconductor Equipment & Materials Sector: Technology Exchange: NYSE
#2175()/7534

Fri 19'th Oct 2018

PERIOD 2018-07-20 - 2018-10-19
CHANGE 1.43%
PRICE $2.13
VOLUME
Sell
TREND
Sell

MV LONG
Sell

MV SHORT
Sell

PIVOT
Buy

MACD
Sell

Request Prediction
0.00%
Predict

United Microelectronics Corporation Stock Analysis

Technical stock analysis for Fri 19'th Oct 2018

Sell candidate since 2018-10-01 Loss -17.44%
Shorts 1.68% ( 2018-09-28 )
Cash n/a
Loans n/a
Beta 0.73
ROA 3.22

United Microelectronics Corporation gained 1.43% in the last trading day, rising from $2.10 to $2.13 The price has fallen in 6 of the last 10 days and is down by -8.97% for this period. Volume fell in the last day by -0.59 million shares, and in total, 1.12 million shares bought and sold for approximately $2.39 million. 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.

Trend

United Microelectronics Corporation lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $2.09 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -22.53% during the next 3 months and, with 90% probability hold a price between $1.62 and $1.88 at the end of this period.

Click here for today's Top 5 Trending Companies

Signals

A buy signal was issued from a pivot bottom point on Thursday October 18, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. United Microelectronics Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $2.16 and $2.45. A break-up above any of these levels will issue buy signals.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

RSI14 is 8 and the stock is extremely oversold on RSI14 and is now having a minor correction up. Further gains in the short-term can be expected, and some stocks will provide a very good short-term return from this kind of RSI position unless there is a fundamental risk for bankruptcy or other issues that may affect the stock negatively.

Access full RSI 14 and RSI 21 lists

Support & Resistance

United Microelectronics Corporation finds support from accumulated volume at $2.10.

Support: $2.10 Price: $2.13 Resistance: $2.47

Risk

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 $0.02 between high and low, or 0.95%. For the last week, the stock has had a daily average volatility of 1.51%.

United Microelectronics Corporation is overbought on RSI14 (8). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.

Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.

Overall risk:

Very Low Low Medium High Very High

Evaluation

United Microelectronics Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.

Sell Candidate

Click for Top 5 Sell Candidates
UMC $2.13 $0.03(1.43%)
UMC is up $0.03 today, but where's it headed in November?
Zacks Investment Research is releasing its prediction for UMC based on the 1-3 month system that more than doubles the S&P 500.

Click here – the UMC analysis is free »

Last donation

Do you find our website useful too?
Help us improve by making a small donation or
Get PRO features

Proudly made at


in partnership with
START FREE 5-DAY TRIAL