West Fraser Timber Co. Ltd. Stock Forecast
West Fraser Timber Co. Ltd. stock price up 1.28% on Wednesday
(Updated on Jun 12, 2024)
The West Fraser Timber Co. Ltd. stock price gained 1.28% on the last trading day (Wednesday, 12th Jun 2024), rising from $78.06 to $79.06. During the last trading day the stock fluctuated 2.38% from a day low at $78.63 to a day high of $80.50. The price has been going up and down for this period, and there has been a 0.67% gain for the last 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 94 thousand shares were bought and sold for approximately $7.41 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 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 -6.34% during the next 3 months and, with a 90% probability hold a price between $69.25 and $76.32 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WFG Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The West Fraser Timber Co. Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $79.20. On a fall, the stock will find some support from the short-term average at $78.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -4.52%. 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 West Fraser Timber Co. Ltd. stock
West Fraser Timber Co. Ltd. finds support from accumulated volume at $78.89 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 $1.87 (2.38%) between high and low. For the last week, the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WFG) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect West Fraser Timber Co. Ltd. to open at $79.40, and during the day (based on 14 day Average True Range), to move between $77.25 and $80.87, which gives a possible trading interval of +/-$1.81 (+/-2.28%) up or down from last closing price. If West Fraser Timber Co. Ltd. takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.89 (0.22%) than the resistance at $80.75 (2.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is West Fraser Timber Co. Ltd. stock A Buy?
West Fraser Timber Co. Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.638 Sell Candidate Unchanged
Predicted Opening Price for West Fraser Timber Co. Ltd. of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| $79.40 ( 0.426%) | $79.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WFG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 81.27 | 2.79% |
| R2 | 80.55 | 1.89% |
| R1 | 80.11 | 1.33% |
| Price | 79.06 | |
| S1 | 78.68 | -0.478% |
| S2 | 78.24 | -1.04% |
| S3 | 77.53 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 82.80 | 4.73% |
| R2 | 81.40 | 2.96% |
| R1 | 80.75 | 2.14% |
| Price | 79.06 | |
| S1 | 78.89 | -0.215% |
| S2 | 78.65 | -0.519% |
| S3 | 77.93 | -1.43% |
WFG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 14, 2024 | Mar 14, 2024 | Apr 04, 2024 | $0.300 | 0% |
| 2 | Dec 12, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.300 | 0% |
| 3 | Sep 12, 2023 | Sep 26, 2023 | Oct 13, 2023 | $0.300 | 0% |
| 4 | Jun 07, 2023 | Jun 20, 2023 | Jul 07, 2023 | $0.300 | 0% |
| 5 | Feb 14, 2023 | Mar 16, 2023 | Apr 04, 2023 | $0.300 | 0% |
FAQ
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