Urban One Inc Stock Forecast
Urban One Inc stock price down 2.79% on Wednesday
(Updated on Mar 27, 2024)
The Urban One Inc stock price fell by -2.79% on the last day (Wednesday, 27th Mar 2024) from $1.97 to $1.92. During the last trading day the stock fluctuated 5.85% from a day low at $1.88 to a day high of $1.99. The price has fallen in 6 of the last 10 days and is down by -7.49% for this period. Volume has increased on the last day by 36 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 66 thousand shares were bought and sold for approximately $126.09 thousand.
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 -46.43% during the next 3 months and, with a 90% probability hold a price between $0.86 and $1.31 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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UONEK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 3.51%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Urban One Inc 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 $1.93 and $2.62. A break-up above any of these levels will issue buy signals. Urban One Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Urban One Inc stock
Urban One Inc finds support from accumulated volume at $1.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.110 between high and low, or 5.85%. For the last week, the stock has had daily average volatility of 8.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UONEK) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Urban One Inc to open at $1.93, and during the day (based on 14 day Average True Range), to move between $1.72 and $2.11, which gives a possible trading interval of +/-$0.196 (+/-10.26%) up or down from last closing price. If Urban One Inc takes out the full calculated possible swing range there will be an estimated 20.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.93 (0.78%) than the support at $1.88 (1.83%), 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 Urban One Inc stock A Buy?
Urban One Inc 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.
Current score: -2.917 Sell Candidate Unchanged
Predicted Opening Price for Urban One Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$1.93 ( 0.696%) | $1.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UONEK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.04 | 6.44 % | |
R2 | 2.00 | 4.25 % | ||
R1 | 1.97 | 2.89 % | ||
Current price: | 1.92 | |||
Support | S1 | 1.89 | -1.50 % | |
S2 | 1.86 | -2.85 % | ||
S3 | 1.82 | -5.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.23 | 16.45 % | |
R2 | 2.07 | 8.09 % | ||
R1 | 1.93 | 0.783 % | ||
Current price | 1.92 | |||
Support | S1 | 1.88 | -1.83% | |
S2 | 1.86 | -2.87% | ||
S3 | 1.85 | -3.39% |
FAQ
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