United Natural Foods Forecast and Stock Analysis
Technical UNFI stock analysis for February 15, 2019.
|Shorts||3.10% ( 2019-01-31 )|
United Natural Foods gained 2.94% in the last trading day, rising from $14.62 to $15.05 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 14.8% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.17 million more shares were traded than the day before. In total, 1.10 million shares bought and sold for approximately $16.59 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the UNFI stock was $15.05. This is 2.94% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 4.18% from a day low at $14.58 to a day high of $15.19.
30 day high of the UNFI stock price was $15.58 and low was $11.72.
90 day high was $23.95 and low was $9.23.
52 week high for the United Natural Foods - $49.40 and low - $9.23.
United Natural Foods lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $15.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -32.61% during the next 3 months and, with 90% probability hold a price between $3.20 and $10.72 at the end of this period.
Only positive signals in the chart today. United Natural Foods 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 $14.00 and $12.75. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday January 31, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
The stock holds a RSI14 at 79 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
United Natural Foods finds support from accumulated volume at $14.88.
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 $0.61 between high and low, or 4.18%. For the last week, the stock has had a daily average volatility of 3.77%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the United Natural Foods has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $14.47 (-3.87%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from pivot bottom found 11 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term.