Radio One Stock Forecast
High volatility in Radio One stock price on Tuesday which ended trading at $2.07
(Updated on Apr 16, 2024)
The Radio One stock price fell by -7.59% on the last day (Tuesday, 16th Apr 2024) from $2.24 to $2.07. During the last trading day the stock fluctuated 11.60% from a day low at $2.03 to a day high of $2.27. The price has risen in 5 of the last 10 days but is still down by -13.03% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 52 thousand shares were bought and sold for approximately $106.89 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -47.53% during the next 3 months and, with a 90% probability hold a price between $0.709 and $1.21 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
UONE Signals & Forecast
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. The Radio One stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 $2.32 and $2.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -23.33%. Further fall is indicated until a new bottom pivot has been found. Radio One gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Radio One stock
Radio One finds support from accumulated volume at $2.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the 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 $0.236 between high and low, or 11.60%. For the last week, the stock has had daily average volatility of 6.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UONE) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Radio One Inc to open at $2.12, and during the day (based on 14 day Average True Range), to move between $1.88 and $2.26, which gives a possible trading interval of +/-$0.185 (+/-8.95%) up or down from last closing price. If Radio One Inc takes out the full calculated possible swing range there will be an estimated 17.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.06 (0.48%) than the resistance at $2.09 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Radio One Inc stock A Buy?
Radio One 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.
Current score: -7.608 Strong Sell Candidate Unchanged
Predicted Opening Price for Radio One Inc of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $2.12 ( 2.51%) | $2.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UONE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.36 | 13.88 % | |
| R2 | 2.27 | 9.54 % | ||
| R1 | 2.21 | 6.85 % | ||
| Current price: | 2.07 | |||
| Support | S1 | 2.03 | -1.84 % | |
| S2 | 1.98 | -4.52 % | ||
| S3 | 1.89 | -8.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.46 | 18.84 % | |
| R2 | 2.30 | 11.11 % | ||
| R1 | 2.09 | 0.97 % | ||
| Current price | 2.07 | |||
| Support | S1 | 2.06 | -0.483% | |
| S2 | 1.99 | -3.86% | ||
| S3 | 0 | . |
FAQ
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