Utah Medical Products Stock Forecast
Red day on Thursday for Utah Medical Products stock after losing 1.30%
(Updated on Apr 25, 2024)
The Utah Medical Products stock price fell by -1.30% on the last day (Thursday, 25th Apr 2024) from $67.16 to $66.29. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.48% from a day low at $66.14 to a day high of $67.12. The price has fallen in 9 of the last 10 days and is down by -5.52% for this period. Volume has increased on the last day by 4 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, 23 thousand shares were bought and sold for approximately $1.55 million.
The stock lies in the middle of a 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 -12.38% during the next 3 months and, with a 90% probability hold a price between $56.81 and $60.55 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.
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UTMD Signals & Forecast
There are few to no technical positive signals at the moment. The Utah Medical Products 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 $67.51 and $69.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -6.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 with a target of $66.93. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Utah Medical Products stock
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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.98 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Utah Medical Products to open at $66.52, and during the day (based on 14 day Average True Range), to move between $64.94 and $67.64, which gives a possible trading interval of +/-$1.35 (+/-2.04%) up or down from last closing price. If Utah Medical Products takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $68.57, some $2.28 (3.44%) from the current price of $66.29, our system finds the risk reward not very attractive.
Is Utah Medical Products stock A Buy?
Utah Medical Products holds several negative signals and is within a 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: -3.427 Sell Candidate Unchanged
Predicted Opening Price for Utah Medical Products of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $66.52 ( 0.342%) | $66.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.50 | 1.82 % | |
| R2 | 67.12 | 1.26 % | ||
| R1 | 66.89 | 0.91 % | ||
| Current price: | 66.29 | |||
| Support | S1 | 66.14 | -0.223 % | |
| S2 | 65.91 | -0.572 % | ||
| S3 | 65.54 | -1.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.28 | 7.53 % | |
| R2 | 70.55 | 6.43 % | ||
| R1 | 68.57 | 3.44 % | ||
| Current price | 66.29 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
UTMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 07, 2024 | Mar 14, 2024 | Apr 03, 2024 | $0.300 | 0.437% |
| 2 | Oct 31, 2023 | Dec 14, 2023 | Jan 03, 2024 | $0.300 | 0.365% |
| 3 | Aug 06, 2023 | Sep 14, 2023 | Oct 03, 2023 | $0.295 | 0.343% |
| 4 | May 09, 2023 | Jun 15, 2023 | Jul 06, 2023 | $0.295 | 0.316% |
| 5 | Feb 07, 2023 | Mar 16, 2023 | Apr 04, 2023 | $0.295 | 0.318% |
FAQ
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