United Natural Foods Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
United Natural Foods fell by -3.77% in the last day from $13.28 to $12.78 and has now fallen 9 days in a row. The price has fallen in 9 of the last 10 days and is down by -43.15% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.71 million shares and in total 2.93 million shares bought and sold for approximately $37.42 million.
United Natural Foods has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($14.57) are considered to be a "second chance" to get out. According to the fan-theory $10.10 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
There are few to none technical positive signals at the moment. United Natural Foods 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 $16.50 and $21.48. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday November 12, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 9 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.85 between high and low, or 6.67%. For the last week, the stock has had a daily average volatility of 10.59%.
United Natural Foods is overbought on RSI14 (9). 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.
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United Natural Foods holds several negative signals and is within a very 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.
|UNFI $12.78 $-0.50(-3.77%)|
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