UTStarcom Holdings Corp Stock Forecast
High volatility in UTStarcom Holdings Corp stock price on Wednesday which ended trading at $2.59
(Updated on Mar 27, 2024)
No changes to the price of UTStarcom Holdings Corp stock on the last trading day (Wednesday, 27th Mar 2024). During the last trading day the stock fluctuated 10.81% from a day low at $2.59 to a day high of $2.87. The price has been going up and down for this period, and there has been a -2.63% loss for the last 2 weeks.
The stock lies in the middle of a 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 -19.69% during the next 3 months and, with a 90% probability hold a price between $1.79 and $2.23 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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UTSI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The UTStarcom Holdings Corp 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 $2.62 and $2.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 16, 2024, and so far it has fallen -15.91%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for UTStarcom Holdings Corp stock
UTStarcom Holdings Corp finds support from accumulated volume at $2.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.280 between high and low, or 10.81%. For the last week, the stock has had daily average volatility of 6.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UTSI) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect UTStarcom Holdings Corp to open at $2.68, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.75, which gives a possible trading interval of +/-$0.159 (+/-6.13%) up or down from last closing price. If UTStarcom Holdings Corp takes out the full calculated possible swing range there will be an estimated 12.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.58 (0.39%) than the resistance at $3.01 (16.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UTStarcom Holdings Corp stock A Buy?
UTStarcom Holdings Corp holds several negative signals and is within a 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: -3.784 Sell Candidate Unchanged
Predicted Opening Price for UTStarcom Holdings Corp of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$2.68 ( 3.60%) | $2.59 |
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 | 2.96 | 14.41 % | |
R2 | 2.86 | 10.28 % | ||
R1 | 2.79 | 7.73 % | ||
Current price: | 2.59 | |||
Support | S1 | 2.58 | -0.526 % | |
S2 | 2.51 | -3.08 % | ||
S3 | 2.40 | -7.21 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.16 | 22.01 % | |
R2 | 3.01 | 16.22 % | ||
R1 | 3.01 | 16.21 % | ||
Current price | 2.59 | |||
Support | S1 | 2.58 | -0.386% | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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