UWMC: Inverse Head & Shoulders

On the 60 min chart, we can see that the price is forming an "Inverse Head & Shoulders" pattern near a strong support zone. From the other side, we have also the 4-hour analysis that is supporting the reversal of the price higher from where it is actually.

Why Is This Stock Undervalued?
UWMC reported 4Q20 net income of $1.37 billion and FY20 net income of $3.38 billion, an 821% and 715% increase over 4Q19 and FY19 respectively. The Board of Directors of UWMC declared its first regular quarterly dividend of $0.10 per share on the outstanding shares of Class A Common Stock.
So we can say that the company is very solid as long as the profits are very good and they declared a regular quarterly dividend.


Short Term Targets:
$8.25 or 7%
$8.79 or 13.90%

Extended Targets:
$9.60
$10.67
$11.52

Thank you and Good Luck!

4 - hour analysis: