Westinghouse Air Brake Technologies Corp Stock Forecast

Westinghouse Air Brake Technologies Corp stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)

WAB Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -3.20%. 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). The Westinghouse Air Brake Technologies Corp 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 $145.08 and $144.42. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Westinghouse Air Brake Technologies Corp stock

On the downside, the stock finds support just below today's level from accumulated volume at $137.07 and $135.09. 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, Westinghouse Air Brake Technologies Corp finds support just below today's level at $137.07. If this is broken, then the next support from accumulated volume will be at $135.09 and $133.96.

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 $3.46 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 1.68%.

Our recommended stop-loss: $139.72 (-4.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (WAB) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Westinghouse Air Brake Technologies Corporation to open at $145.20, and during the day (based on 14 day Average True Range), to move between $143.34 and $148.04, which gives a possible trading interval of +/-$2.35 (+/-1.61%) up or down from last closing price. If Westinghouse Air Brake Technologies Corporation takes out the full calculated possible swing range there will be an estimated 3.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $147.54 (1.27%) than the support at $137.07 (5.92%), 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 Westinghouse Air Brake Technologies Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Westinghouse Air Brake Technologies Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.808 Buy Candidate Upgraded

Predicted Opening Price for Westinghouse Air Brake Technologies Corporation of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.