• UONE trades well on the defensive at the beginning of the week.
  • US markets trade with a mixed tone on Monday.

Shares of Urban One Inc. opened Monday’s session on a weak note, adding to Friday’s losses and testing the vicinity of the $18.00 level.

In fact, UONE is now losing ground for the fourth consecutive session, trading in multi-day lows and prolonging the leg lower after being rejected from YTD peaks above $54.00 earlier in the month.

On the broader scenario, both the S&P500 and the NASDAQ are trading in the red territory, while the DowJones is posting modest gains mainly on the back of Boeing’s outperformance.

UONE Stock Chart

At the moment, UONE is retreating11.57% at $18.35 and faces the next support at $18.00 (weekly low Jun.29) seconded by $5.44 (55-day SMA) and then $2.91 (200-day SMA). On the flip side, a surpass of $31.22 (high Jun.22) would aim for $40.00 (high Jun.16) and finally $54.16 (2020 high Jun.19).

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