WideOpenWest Inc Stock Forecast
WideOpenWest Inc stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The WideOpenWest Inc stock price fell by -0.86% on the last day (Thursday, 25th Apr 2024) from $3.49 to $3.46. During the last trading day the stock fluctuated 3.12% from a day low at $3.37 to a day high of $3.48. The price has fallen in 6 of the last 10 days and is down by -5.46% for this period. Volume has increased on the last day by 30 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, 200 thousand shares were bought and sold for approximately $690.66 thousand.
The stock lies in the middle of a very 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 -5.04% during the next 3 months and, with a 90% probability hold a price between $2.79 and $3.85 at the end of this 3-month period.
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WOW Signals & Forecast
The WideOpenWest 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 $3.46 and $3.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.67%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). WideOpenWest Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for WideOpenWest Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.07 and $3.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, WideOpenWest Inc finds support just below today's level at $3.07. If this is broken, then the next support from accumulated volume will be at $3.04 and $3.03.
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 $0.105 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 4.09%.
Our recommended stop-loss: $3.31 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (WOW) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect WideOpenWest Inc to open at $3.44, and during the day (based on 14 day Average True Range), to move between $3.29 and $3.63, which gives a possible trading interval of +/-$0.175 (+/-5.05%) up or down from last closing price. If WideOpenWest Inc takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.64 (5.20%) than the support at $3.07 (11.27%), 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 WideOpenWest Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.243 Buy Candidate Upgraded
Predicted Opening Price for WideOpenWest Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $3.44 ( 0.723%) | $3.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WOW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.54 | 2.31 % | |
| R2 | 3.50 | 1.15 % | ||
| R1 | 3.48 | 0.437 % | ||
| Current price: | 3.46 | |||
| Support | S1 | 3.39 | -1.88 % | |
| S2 | 3.37 | -2.60 % | ||
| S3 | 3.33 | -3.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.20 | 21.39 % | |
| R2 | 3.86 | 11.56 % | ||
| R1 | 3.64 | 5.20 % | ||
| Current price | 3.46 | |||
| Support | S1 | 3.07 | -11.27% | |
| S2 | 3.04 | -12.14% | ||
| S3 | 3.03 | -12.43% |
FAQ
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