Universal Corporation Forecast and Stock Analysis
Technical UVV stock analysis for February 15, 2019.
|Shorts||1.46% ( 2019-01-31 )|
Universal Corporation gained 1.15% in the last trading day, rising from $56.69 to $57.34 The price has risen in 6 of the last 10 days and is up by 1.97% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 111 430 more shares were traded than the day before. In total, 111 430 shares bought and sold for approximately $6.39 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the UVV stock was $57.34. This is 1.15% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 2.26% from a day low at $57.16 to a day high of $58.45.
30 day high of the UVV stock price was $58.64 and low was $53.19.
90 day high was $68.00 and low was $52.60.
52 week high for the Universal Corporation - $76.98 and low - $46.10.
Universal Corporation has 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 on the current trend broken, which is $56.86, a level that may pose a second chance to hit a runner. According to fan-theory $65.19 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Universal Corporation 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 $56.38 and $55.67. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday February 11, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 61 and the stock is currently not being overbought or oversold
Support & Resistance
Universal Corporation finds support from accumulated volume at $56.43.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.29 (2.26%) between high and low. For the last week, the stock has had a daily average volatility of 2.13%.
Our recommended stoploss: $54.55 (-4.87%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)
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Evaluation: Buy Candidate
Universal Corporation 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.