UTStarcom Holdings Corp Stock Forecast
Volatile ride for UTStarcom Holdings Corp stock price on Thursday moving between $2.64 and $2.98
(Updated on Apr 25, 2024)
The UTStarcom Holdings Corp stock price gained 10.65% on the last trading day (Thursday, 25th Apr 2024), rising from $2.69 to $2.98. During the last trading day the stock fluctuated 12.75% from a day low at $2.64 to a day high of $2.98. The price has been going up and down for this period, and there has been a 14.48% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately $14.57 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $2.85, a level that may pose a second chance to hit a runner. According to fan-theory $3.35 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UTSI Signals & Forecast
Mostly positive signals in the chart today. The UTStarcom Holdings Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $2.72 and $2.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 15.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). UTStarcom Holdings Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, March 22, 2024 with a target of $2.76. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for UTStarcom Holdings Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.79 and $2.70. There is a 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, UTStarcom Holdings Corp finds support just below today's level at $2.79. If this is broken, then the next support from accumulated volume will be at $2.70 and $2.58.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.337 (12.75%) between high and low. For the last week, the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: $2.83 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (UTSI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect UTStarcom Holdings Corp to open at $2.86, and during the day (based on 14 day Average True Range), to move between $2.79 and $3.17, which gives a possible trading interval of +/-$0.191 (+/-6.40%) up or down from last closing price. If UTStarcom Holdings Corp takes out the full calculated possible swing range there will be an estimated 12.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.01 (1.12%) than the support at $2.79 (6.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is UTStarcom Holdings Corp stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 2.884 Buy Candidate Unchanged
Predicted Opening Price for UTStarcom Holdings Corp of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $2.86 ( 3.77%) | $2.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UTSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.20 | 7.54 % | |
| R2 | 3.07 | 3.22 % | ||
| R1 | 2.99 | 0.550 % | ||
| Current price: | 2.98 | |||
| Support | S1 | 2.74 | -8.09 % | |
| S2 | 2.66 | -10.76 % | ||
| S3 | 2.53 | -15.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.08 | 3.48 % | |
| R2 | 3.04 | 2.14 % | ||
| R1 | 3.01 | 1.12 % | ||
| Current price | 2.98 | |||
| Support | S1 | 2.79 | -6.27% | |
| S2 | 2.70 | -9.29% | ||
| S3 | 2.58 | -13.32% |
FAQ
Click here for our free guide on how to buy UTStarcom Holdings Corp Stock.
