UNITI GROUP INC (UNIT) Stock Technical Analysis
NASDAQ:UNIT • US9129321009
Overall UNIT gets a technical rating of 8 out of 10. Although UNIT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- The long and short term trends are both positive. This is looking good!
- In the last month UNIT has a been trading in the 7.08 - 8.62 range, which is quite wide. It is currently trading near the high of this range.
- UNIT has an average volume of 2347060 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that UNIT is one of the better performing stocks in the market, outperforming 74% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- UNIT is part of the Diversified Telecommunication Services industry. There are 37 other stocks in this industry, UNIT did better than 66% of them.
- UNIT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so UNIT is lagging the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
UNIT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 7.98, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for UNIT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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3 important support areas can be observed.
- A support zone ranging from 7.92 to 7.98. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 7.30 to 7.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @5.93 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @9.18 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for UNIT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for UNIT is up. |
| ChartMill Relative Strength | 74.09 | POSITIVE | UNIT has a high relative strength, it outperformed 74.09% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of UNIT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of UNIT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of UNIT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.41 | NEUTRAL | The RSI value for UNIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests UNIT has a positive trend. |
| Stochastics (14,3) | 78.34 | NEUTRAL | The Stochastics value for UNIT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.15 | MEDIUM VOLATILITY | The ATR as a percentage value for UNIT suggests some volalility. |
| Average Directional Index/ADX (14) | 27.55 | POSITIVE | The high ADX value value for UNIT suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 9.19 | 7.91 | 1.28 (13.93%) | 7.18% |
| An entry @9.19. This is a Buy Stop order right above the resistance zone. | An exit @7.91. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.28 points, which is 13.93%. | For a 1.00% total portfolio risk, you can invest 7.18% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
8.58
+0.27 (+3.25%)
UNITI GROUP INC / UNIT FAQ
What is the technical rating for UNIT stock?
ChartMill assigns a technical rating of 8 / 10 to UNIT.
What is the current trend direction of UNITI GROUP INC (UNIT) stock?
The current trend direction for UNITI GROUP INC (UNIT) is Bullish.
What is the RSI signal for UNIT stock?
UNITI GROUP INC (UNIT) has an RSI value of 66.4098. This indicates that the stock is currently neutral.
What is the MACD signal for UNITI GROUP INC (UNIT) stock?
The MACD indicator for UNITI GROUP INC (UNIT) has a value of 0.0196965, indicating a bearish trend.
What is the short term momentum for UNIT stock?
The short term momentum for UNITI GROUP INC (UNIT) is positive.