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Will Union Pacific Corporation (NYSE: UNP) Stock Rise Or Fall?

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Will Union Pacific Corporation (NYSE: UNP) Stock Rise Or Fall?
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In UNP stock income statement, it is observed that the from last couple of quarter reports, the revenue, net income, and profit margin have decreased. This is not a healthy sign as this highlights that the stock is not performing well, and might be losing its charm.

Furthermore, a rally by making an upward break of structures by forming higher highs and lows from the $105 support level was made in March 2020. Also, the Union Pacific Corporation (NYSE: UNP) stock hit the level of $278 which was attained in the first week of April 2022.

But resistance was faced at the high and stock failed to continue its upward break of structures. As profit booking was taken by investors. However, the stock has shown some recovery attempts as the UNP price took support at a crucial level of around $185 multiple times on the charts but sellers were dominant and they kept the stock under trendline resistance. 

Therefore, if UNP stock fails to hold its grip and continuously declines and breaches below $195, it may hit $185.

On the contrary, if buyers boost more, the UNP stock might surge strongly from the current level and surge above. The possible targets are between $219 and $236.

The current value of RSI is 44.08 points. The 14 SMA is below the median line at 46.06 points which indicates that the UNP stock is bearish as the RSI has started to take rejections from 14 SMA.

The MACD line at 0.8016 and the signal line at 1.40 are below the zero line. The histogram has narrowed and led both lines to converge. Therefore, a bearish cross is anticipated next in the MACD indicator.

Currently, the UNP stock is trading below the 20 and 50-day exponential moving averages, which are rejecting the price momentum on the charts.

Nevertheless, if more selling volume surges ahead in future sessions, then the price start making new lower highs and new lows, and may lead the stock to display more fall in UNP price. Hence, the UNP price is expected to move downward giving a bearish outlook over the daily time frame chart.

Despite the bearishness in Union Pacific Corporation (UNP) stock, the stock ratings for UNP stock are positive and highly recommended based on 29 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for UNP stock by 26 analysts range between $182 to $282.

UNP Stock is Under Trendline, What’s Next?

Will Union Pacific Corporation (NYSE: UNP) Stock Rise Or Fall?
Source: NYSE: UNP by TradingView
Will Union Pacific Corporation (NYSE: UNP) Stock Rise Or Fall?
Source: NYSE: UNP by TradingView

Summary

The technical analysis tools of the Union Pacific Corporation stock price highlight downward signals and support bearishness. The (NYSE: UNP) chart indicates that the traders and investors of the share price are bearish and negative on the 1-D timeframe. 

The price action shows a lower highs and lows formation and rejection facing by the downward trendline in UNP stock showing signs of a more bearish outlook at the time of publishing.

However, analysts are optimistic even though the stock is weak. So, it can be said that the stock might go up only if it breaks above the EMA and the trendline. But if it fails to do that, it could fall more and make new lows.

Technical Levels

Support Levels: $195 and $185

Resistance Levels: $219 and $236

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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