Should You Buy United Microelectronics Corp (UMC) Stock After it Has Risen 0.78% in a Week?

Overall market sentiment has been down on United Microelectronics Corp (UMC) stock lately. UMC receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

United Microelectronics Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on UMC!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With UMC Stock Today?

United Microelectronics Corp (UMC) stock is trading at $6.47 as of 11:48 AM on Wednesday, Sep 14, an increase of $0.22, or 3.44% from the previous closing price of $6.25. The stock has traded between $6.38 and $6.49 so far today. Volume today is low. So far 1,727,362 shares have traded compared to average volume of 7,332,690 shares.

More About United Microelectronics Corp

Founded in 1980, United Microelectronics is the world's third-largest dedicated chip foundry, with 7% market share in 2021, according to Gartner, after TSMC and GlobalFoundries. UMC's headquarters are in Hsinchu, Taiwan, and it operates 12 fabs in Taiwan, Mainland China, Japan and Singapore, with additional sales offices in Europe, the U.S. and South Korea. UMC features a diverse customer base including Texas Instruments, MediaTek, Qualcomm, Broadcom, Xilinx and Realtek, supplying a wide range of products applied in communications, display, memory, automotive and more. UMC employs about 20,000 people. Click Here to get the full Stock Report for United Microelectronics Corp stock.