UNI Price Prediction: Bull Structure Too Strong to Fade Despite Overbought Conditions
UNI's recent surge to $6.93 has left many investors wondering if it's due for a correction or if it will continue its upward trend. Analyst Lawrence Jengar notes that despite being overbought, the bull structure is too strong to fade.
The technical indicators are screaming for a pullback towards $6.23-$6.50, but every moving average is stacked below current price, suggesting no trapped overhead supply waiting to dump. The macro picture appears clean, with no major analyst reports or KOL calls in the last 24 hours.
However, the near-term picture is a different story. RSI has blown past 80, and price is essentially kissing the upper Bollinger Band at $7.06. This suggests that the next move is almost never straight up.
The MACD adds weight to the caution case, with the histogram flatlining at zero and momentum running on fumes. Volume & Price Alignment also indicates a long liquidation cascade caught wrong-footed and forced out into the spike.