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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.