Uranium Energy Stock Forecast
Weaker technical forecast for Uranium Energy as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Uranium Energy stock price fell by -0.727% on the last day (Thursday, 18th Apr 2024) from $6.88 to $6.83. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 2.94% from a day low at $6.80 to a day high of $7.00. The price has fallen in 7 of the last 10 days and is down by -6.05% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -875 thousand shares and in total, 3 million shares were bought and sold for approximately $23.24 million.
The stock lies in the middle of a very 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 -10.39% during the next 3 months and, with a 90% probability hold a price between $5.34 and $6.74 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
UEC Signals & Forecast
There are few to no technical positive signals at the moment. The Uranium Energy stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.10 and $6.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.07%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Uranium Energy stock
Uranium Energy finds support from accumulated volume at $6.72 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 $0.200 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 5.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UEC) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Uranium Energy Corp to open at $6.88, and during the day (based on 14 day Average True Range), to move between $6.45 and $7.21, which gives a possible trading interval of +/-$0.376 (+/-5.50%) up or down from last closing price. If Uranium Energy Corp takes out the full calculated possible swing range there will be an estimated 11.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.72 (1.61%) than the resistance at $7.43 (8.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Uranium Energy Corp stock A Buy?
Uranium Energy holds several negative signals and is within a very 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.736 Sell Candidate Downgraded
Predicted Opening Price for Uranium Energy Corp of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $6.88 ( 0.683%) | $6.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.08 | 3.61 % | |
| R2 | 7.00 | 2.49 % | ||
| R1 | 6.95 | 1.80 % | ||
| Current price: | 6.83 | |||
| Support | S1 | 6.80 | -0.435 % | |
| S2 | 6.75 | -1.13 % | ||
| S3 | 6.68 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.20 | 20.06 % | |
| R2 | 7.64 | 11.86 % | ||
| R1 | 7.43 | 8.78 % | ||
| Current price | 6.83 | |||
| Support | S1 | 6.72 | -1.61% | |
| S2 | 6.49 | -4.98% | ||
| S3 | 6.37 | -6.73% |
FAQ
Click here for our free guide on how to buy Uranium Energy Stock.
