Weis Markets Inc Stock Forecast
Stronger technical forecast for Weis Markets Inc stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Weis Markets Inc stock price gained 1.14% on the last trading day (Wednesday, 27th Mar 2024), rising from $63.19 to $63.91. During the last trading day the stock fluctuated 1.40% from a day low at $63.17 to a day high of $64.05. The price has been going up and down for this period, and there has been a -1.07% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately $4.59 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Weis Markets Inc stock with a 90% probability to be traded between $61.34 and $67.46 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WMK Signals & Forecast
The Weis Markets Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $63.56 and $62.84. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -2.99%. 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).
Support, Risk & Stop-loss for Weis Markets Inc stock
Weis Markets Inc finds support from accumulated volume at $61.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.88 between high and low, or 1.40%. For the last week the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $60.98 (-4.58%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (WMK) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Weis Markets Inc to open at $63.71, and during the day (based on 14 day Average True Range), to move between $62.57 and $65.25, which gives a possible trading interval of +/-$1.34 (+/-2.10%) up or down from last closing price. If Weis Markets Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64.24 (0.52%) than the support at $61.41 (3.91%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Weis Markets Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Weis Markets Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.746 Buy Candidate Upgraded
Predicted Opening Price for Weis Markets Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$63.71 ( 0.312%) | $63.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.59 | 1.07 % | |
R2 | 64.26 | 0.541 % | ||
R1 | 64.05 | 0.216 % | ||
Current price: | 63.91 | |||
Support | S1 | 63.37 | -0.84 % | |
S2 | 63.17 | -1.16 % | ||
S3 | 62.83 | -1.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 65.05 | 1.78 % | |
R2 | 64.94 | 1.61 % | ||
R1 | 64.24 | 0.516 % | ||
Current price | 63.91 | |||
Support | S1 | 61.41 | -3.91% | |
S2 | 59.57 | -6.79% | ||
S3 | 59.41 | -7.04% |
WMK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Feb 15, 2024 | Mar 04, 2024 | $0.340 | 0.520% |
2 | Oct 26, 2023 | Nov 03, 2023 | Nov 20, 2023 | $0.340 | 0.558% |
3 | Jul 27, 2023 | Aug 04, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
4 | Apr 27, 2023 | May 05, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
5 | Feb 02, 2023 | Feb 10, 2023 | Feb 27, 2023 | $0.340 | 0.426% |
FAQ
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