UNIVERSAL INSURANCE HOLDINGS INC Stock Forecast
UNIVERSAL INSURANCE HOLDINGS INC stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The UNIVERSAL INSURANCE HOLDINGS INC stock price gained 3.32% on the last trading day (Friday, 19th Apr 2024), rising from $18.99 to $19.62. During the last trading day the stock fluctuated 3.63% from a day low at $19.00 to a day high of $19.69. The price has been going up and down for this period, and there has been a 1.5% 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, 7 thousand more shares were traded than the day before. In total, 134 thousand shares were bought and sold for approximately $2.63 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.83 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.09% during the next 3 months and, with a 90% probability hold a price between $22.23 and $27.56 at the end of this 3-month period.
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UVE Signals & Forecast
The UNIVERSAL INSURANCE HOLDINGS INC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.10 and $19.59. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -6.97%. 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).
Support, Risk & Stop-loss for UNIVERSAL INSURANCE HOLDINGS INC stock
UNIVERSAL INSURANCE HOLDINGS INC finds support from accumulated volume at $19.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.690 (3.63%) between high and low. For the last week, the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: $18.43 (-6.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (UVE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect UNIVERSAL INSURANCE HOLDINGS INC to open at $19.44, and during the day (based on 14 day Average True Range), to move between $19.11 and $20.13, which gives a possible trading interval of +/-$0.514 (+/-2.62%) up or down from last closing price. If UNIVERSAL INSURANCE HOLDINGS INC takes out the full calculated possible swing range there will be an estimated 5.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.61 (0.05%) than the resistance at $20.36 (3.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
UNIVERSAL INSURANCE HOLDINGS INC will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.04. We will update the financials statements for UNIVERSAL INSURANCE HOLDINGS INC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.02% in the first trading day after earnings release.
Is UNIVERSAL INSURANCE HOLDINGS INC stock A Buy?
UNIVERSAL INSURANCE HOLDINGS INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.121 Hold/Accumulate Upgraded
Predicted Opening Price for UNIVERSAL INSURANCE HOLDINGS INC of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $19.44 ( 0.93%) | $19.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.13 | 2.58 % | |
| R2 | 19.86 | 1.24 % | ||
| R1 | 19.70 | 0.409 % | ||
| Current price: | 19.62 | |||
| Support | S1 | 19.17 | -2.28 % | |
| S2 | 19.01 | -3.11 % | ||
| S3 | 18.75 | -4.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.09 | 7.49 % | |
| R2 | 20.90 | 6.52 % | ||
| R1 | 20.36 | 3.77 % | ||
| Current price | 19.62 | |||
| Support | S1 | 19.61 | -0.0510% | |
| S2 | 18.85 | -3.92% | ||
| S3 | 16.74 | -14.68% |
UVE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 17, 2024 | $0.160 | 0.82% |
| 2 | Feb 08, 2024 | Mar 07, 2024 | Mar 15, 2024 | $0.160 | 0.81% |
| 3 | Nov 15, 2023 | Dec 07, 2023 | Dec 15, 2023 | $0.130 | 0.81% |
| 4 | Jul 20, 2023 | Aug 03, 2023 | Aug 11, 2023 | $0.160 | 1.13% |
| 5 | Apr 12, 2023 | May 11, 2023 | Aug 11, 2023 | $0.160 | 1.13% |
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