Western Alliance Bancorporation Stock Forecast
Western Alliance Bancorporation stock price down 0.90% on Monday
(Updated on Apr 15, 2024)
The Western Alliance Bancorporation stock price fell by -0.90% on the last day (Monday, 15th Apr 2024) from $56.67 to $56.16. During the last trading day the stock fluctuated 4.99% from a day low at $55.25 to a day high of $58.01. The price has fallen in 8 of the last 10 days and is down by -10.09% for this period. Volume has increased on the last day by 133 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 994 thousand shares were bought and sold for approximately $55.83 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.55% during the next 3 months and, with a 90% probability hold a price between $49.61 and $61.81 at the end of this 3-month period.
WAL Signals & Forecast
There are few to no technical positive signals at the moment. The Western Alliance Bancorporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $58.50 and $59.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -12.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Western Alliance Bancorporation stock
Western Alliance Bancorporation finds support from accumulated volume at $55.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.76 between high and low, or 4.99%. For the last week, the stock has had daily average volatility of 3.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WAL) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Western Alliance Bancorporation to open at $56.47, and during the day (based on 14 day Average True Range), to move between $54.02 and $58.30, which gives a possible trading interval of +/-$2.14 (+/-3.82%) up or down from last closing price. If Western Alliance Bancorporation takes out the full calculated possible swing range there will be an estimated 7.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $55.26 (1.60%) than the resistance at $59.12 (5.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Western Alliance Bancorporation will release earnings BMO on Thursday, April 18, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.70. We will update the financials statements for Western Alliance Bancorporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.05% in the first trading day after earnings release.
Is Western Alliance Bancorporation stock A Buy?
Western Alliance Bancorporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.029 Sell Candidate Unchanged
Predicted Opening Price for Western Alliance Bancorporation of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $56.47 ( 0.555%) | $56.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.23 | 5.46 % | |
| R2 | 58.17 | 3.59 % | ||
| R1 | 57.52 | 2.43 % | ||
| Current price: | 56.16 | |||
| Support | S1 | 55.42 | -1.32 % | |
| S2 | 54.77 | -2.48 % | ||
| S3 | 53.72 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 67.34 | 19.91 % | |
| R2 | 59.15 | 5.32 % | ||
| R1 | 59.12 | 5.27 % | ||
| Current price | 56.16 | |||
| Support | S1 | 55.26 | -1.60% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
WAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.370 | 0.656% |
| 2 | Oct 27, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.370 | 0.674% |
| 3 | Aug 01, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.360 | 0.733% |
| 4 | May 02, 2023 | May 11, 2023 | May 26, 2023 | $0.360 | 1.01% |
| 5 | Feb 06, 2023 | Feb 16, 2023 | May 26, 2023 | $0.360 | 1.01% |
FAQ
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