UONE Stock Price: Urban One Inc Class A recedes from tops, back to $24.00
- UONE gives away part of Tuesday’s sharp advance and tests $24.00.
- Tariffs, coronavirus hurt the mood around US markets on Wednesday.
Shares of Urban One Inc. (UONE) are trading on the defensive during the pre-market hours, re-visiting the $24.00 neighbourhood following Tuesday’s move up to the vicinity of $30.00.
In the meantime, UONE is navigating volatile waters so far this week, coming under some pressure following a steep move to levels above the $54.00 yardstick on Friday. UONE’s negative price action on Wednesday comes in tandem with the broad-based selling bias in the US markets on unremitting coronavirus concerns and the likeliness of US tariffs on EU, UK goods.
UONE Stock Chart
At the moment, UONE is retreating 7.59% at $24.00 and faces the next down barrier at $18.10 (low Jun.22) seconded by $3.96 (55-day SMA) and then $2.52 (200-day SMA). On the flip side, the surpass of $31.22 (high Jun.22) would aim for $40.00 (high Jun.16) and finally $54.16 (2020 high Jun.19).
Author
Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.
