In the meantime, Wedbush downgraded its United Micro Electronics ADR [UMC] rating to a Neutral from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in late January from “a Buy” to “a Sell”. JP Morgan also remained covering UMC and has decreased its forecast on October 30, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on October 28, 2024. It rated UMC as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of UMC
On Friday, United Micro Electronics ADR [NYSE:UMC] saw its stock jump 0.95% to $7.45. Over the last five days, the stock has gained 1.36%. United Micro Electronics ADR shares have risen nearly 14.79% since the year began. Nevertheless, the stocks have fallen -6.29% over the past one year. While a 52-week high of $9.00 was reached on 03/31/25, a 52-week low of $5.61 was recorded on 01/28/25. SMA at 50 days reached $6.81, while 200 days put it at $7.18.
Levels Of Support And Resistance For UMC Stock
The 24-hour chart illustrates a support level at 7.38, which if violated will result in even more drops to 7.32. On the upside, there is a resistance level at 7.52. A further resistance level may holdings at 7.59. The Relative Strength Index (RSI) on the 14-day chart is 65.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.85%. Stochastics %K at 82.23% indicates the stock is a selling.
