Taking this into account, JP Morgan downgraded its United Micro Electronics ADR [UMC] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late October from “an Overweight” to “an Equal-weight”. Goldman also remained covering UMC and has decreased its forecast on October 17, 2024 with a “Neutral” recommendation from previously “Buy” rating. Goldman revised its rating on August 01, 2024. It rated UMC as “a Buy” which previously was an “a Neutral”.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Price Performance Review of UMC
On Tuesday, United Micro Electronics ADR [NYSE:UMC] saw its stock unchanged to $6.99. Over the last five days, the stock has gained 0.43%. United Micro Electronics ADR shares have fallen nearly -17.38% since the year began. Nevertheless, the stocks have fallen -8.75% over the past one year. While a 52-week high of $9.00 was reached on 06/20/24, a 52-week low of $6.78 was recorded on 10/31/24. SMA at 50 days reached $7.99, while 200 days put it at $8.13.
Levels Of Support And Resistance For UMC Stock
The 24-hour chart illustrates a support level at 6.91, which if violated will result in even more drops to 6.82. On the upside, there is a resistance level at 7.08. A further resistance level may holdings at 7.16. The Relative Strength Index (RSI) on the 14-day chart is 33.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.66%. Stochastics %K at 24.55% indicates the stock is a holding.
How much short interest is there in United Micro Electronics ADR?
A steep rise in short interest was recorded in United Micro Electronics ADR stocks on 2024-10-31, growing by 10.42 million shares to a total of 58.54 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 48.11 million shares. There was a rise of 17.81%, which implies that there is a positive sentiment for the stock.
