Westrock Company Stock Forecast
Green day on Friday for Westrock Company
(Updated on May 03, 2024)
The Westrock Company stock price gained 0.0978% on the last trading day (Friday, 3rd May 2024), rising from $51.11 to $51.16. During the last trading day the stock fluctuated 1.63% from a day low at $50.96 to a day high of $51.79. The price has risen in 6 of the last 10 days and is up by 6.61% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately $149.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.75% during the next 3 months and, with a 90% probability hold a price between $56.03 and $62.00 at the end of this 3-month period.
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WRK Signals & Forecast
The Westrock Company 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 $48.68 and $48.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 9.29%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Westrock Company stock
Westrock Company finds support from accumulated volume at $51.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.83 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: $49.58 (-3.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (WRK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Westrock Company to open at $51.30, and during the day (based on 14 day Average True Range), to move between $50.13 and $52.19, which gives a possible trading interval of +/-$1.03 (+/-2.02%) up or down from last closing price. If Westrock Company takes out the full calculated possible swing range there will be an estimated 4.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $51.11, some $0.0500 (0.10%) from the current price of $51.16, our system finds the risk reward attractive.
Is Westrock Company stock A Buy?
Westrock Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Westrock Company of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$51.30 ( 0.280%) | $51.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WRK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 52.13 | 1.90 % | |
R2 | 51.82 | 1.28 % | ||
R1 | 51.62 | 0.90 % | ||
Current price: | 51.16 | |||
Support | S1 | 50.99 | -0.340 % | |
S2 | 50.79 | -0.722 % | ||
S3 | 50.47 | -1.34 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 51.16 | |||
Support | S1 | 51.11 | -0.0977% | |
S2 | 49.34 | -3.56% | ||
S3 | 42.82 | -16.30% |
WRK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 13, 2024 | May 13, 2024 | May 22, 2024 | $0.303 | 0.591% |
2 | Jan 26, 2024 | Feb 08, 2024 | Feb 21, 2024 | $0.303 | 0.691% |
3 | Oct 27, 2023 | Nov 10, 2023 | Nov 21, 2023 | $0.300 | 0.83% |
4 | Jul 28, 2023 | Aug 09, 2023 | Aug 24, 2023 | $0.275 | 0.87% |
5 | Apr 28, 2023 | May 10, 2023 | Aug 24, 2023 | $0.275 | 0.87% |
FAQ
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