Urban One Inc Stock Analysis
Technical stock analysis for 18 January 2019
Urban One Inc fell by -0.93% in the last day from $2.15 to $2.13 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days , but is still up by 15.14% over the past 2 weeks. 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 -3 275 shares and in total 11 873 shares bought and sold for approximately $25 289.50.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the UONEK stock was $2.13. This is 0.93% less than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 8.24% from a day low at $2.06 to a day high of $2.23.
30 day high of the UONEK stock price was $2.28 and low was $1.60.
90 day high was $2.41 and low was $1.60.
52 week high for the Urban One Inc - $2.41 and low - $1.60.
Urban One Inc 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 $2.19 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 -12.98% during the next 3 months and, with 90% probability hold a price between $1.34 and $1.91 at the end of this period.
Urban One Inc 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 $2.06 and $2.01. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday January 16, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $2.01 and $1.75.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Urban One Inc finds support just below today's level at $2.01. If this is broken, then the next support from accumulated volume will be at $1.75 and $1.70.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.17 between high and low, or 8.24%. For the last week the stock has had a daily average volatility of 7.85%.
Our recommended stoploss: $2.00 (-5.94%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from pivot top found 2 days ago.)
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Urban One Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.