Weibo Corporation Stock Forecast
Green day on Friday for Weibo Corporation
(Updated on May 03, 2024)
The Weibo Corporation stock price gained 4.09% on the last trading day (Friday, 3rd May 2024), rising from $9.29 to $9.67. During the last trading day the stock fluctuated 6.19% from a day low at $9.21 to a day high of $9.78. The price has risen in 7 of the last 10 days and is up by 22.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $46.86 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $9.52, a level that may pose a second chance to hit a runner. According to fan-theory $11.59 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WB Signals & Forecast
Mostly positive signals in the chart today. The Weibo Corporation 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 $8.90 and $8.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 26.74%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Weibo Corporation stock
Weibo Corporation finds support from accumulated volume at $9.31 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 $0.570 between high and low, or 6.19%. For the last week, the stock has had daily average volatility of 4.15%.
The Weibo Corporation stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $9.35 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (WB) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Weibo Corporation to open at $9.55, and during the day (based on 14 day Average True Range), to move between $9.25 and $10.09, which gives a possible trading interval of +/-$0.419 (+/-4.34%) up or down from last closing price. If Weibo Corporation takes out the full calculated possible swing range there will be an estimated 8.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.68 (0.10%) than the support at $9.31 (3.72%), 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 Weibo Corporation stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 4.171 Buy Candidate Unchanged
Predicted Opening Price for Weibo Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $9.55 ( 1.21%) | $9.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.12 | 4.69 % | |
| R2 | 9.91 | 2.44 % | ||
| R1 | 9.77 | 1.05 % | ||
| Current price: | 9.67 | |||
| Support | S1 | 9.34 | -3.46 % | |
| S2 | 9.20 | -4.85 % | ||
| S3 | 8.98 | -7.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.91 | 2.48 % | |
| R2 | 9.70 | 0.310 % | ||
| R1 | 9.68 | 0.103 % | ||
| Current price | 9.67 | |||
| Support | S1 | 9.31 | -3.72% | |
| S2 | 9.12 | -5.69% | ||
| S3 | 8.94 | -7.55% |
WB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 13, 2024 | $0.80 | 8.27% |
| 2 | May 26, 2023 | Jun 23, 2023 | Jul 26, 2023 | $0.85 | 5.86% |
FAQ
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