Weis Markets Inc Stock Forecast
Red day on Friday for Weis Markets Inc stock after losing 1.06%
(Updated on May 03, 2024)
The Weis Markets Inc stock price fell by -1.06% on the last day (Friday, 3rd May 2024) from $63.85 to $63.17. During the last trading day the stock fluctuated 1.57% from a day low at $62.94 to a day high of $63.93. The price has fallen in 7 of the last 10 days and is down by -2.05% for this period. Volume has increased on the last day by 32 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, 63 thousand shares were bought and sold for approximately $3.98 million.
The stock lies in the middle of a weak 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 3.40% during the next 3 months and, with a 90% probability hold a price between $64.25 and $69.56 at the end of this 3-month period.
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WMK Signals & Forecast
The Weis Markets Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $63.44. On a fall, the stock will find some support from the long-term average at approximately $63.12. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 2.55%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Weis Markets Inc stock
Weis Markets Inc finds support from accumulated volume at $62.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.99 between high and low, or 1.57%. For the last week the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: $60.27 (-4.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (WMK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Weis Markets Inc to open at $63.35, and during the day (based on 14 day Average True Range), to move between $62.03 and $64.31, which gives a possible trading interval of +/-$1.14 (+/-1.81%) up or down from last closing price. If Weis Markets Inc takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $62.58 (0.93%) than the resistance at $64.24 (1.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Weis Markets Inc 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 Weis Markets Inc stock to perform well in the short-term.
Current score: 2.023 Buy Candidate Unchanged
Predicted Opening Price for Weis Markets Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $63.35 ( 0.280%) | $63.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.34 | 1.85 % | |
| R2 | 63.96 | 1.25 % | ||
| R1 | 63.72 | 0.88 % | ||
| Current price: | 63.17 | |||
| Support | S1 | 62.97 | -0.319 % | |
| S2 | 62.73 | -0.689 % | ||
| S3 | 62.36 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.05 | 2.98 % | |
| R2 | 64.94 | 2.80 % | ||
| R1 | 64.24 | 1.69 % | ||
| Current price | 63.17 | |||
| Support | S1 | 62.58 | -0.93% | |
| S2 | 61.41 | -2.79% | ||
| S3 | 59.41 | -5.95% |
WMK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 15, 2024 | Mar 04, 2024 | $0.340 | 0.520% |
| 2 | Oct 26, 2023 | Nov 03, 2023 | Nov 20, 2023 | $0.340 | 0.558% |
| 3 | Jul 27, 2023 | Aug 04, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
| 4 | Apr 27, 2023 | May 05, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
| 5 | Feb 02, 2023 | Feb 10, 2023 | Feb 27, 2023 | $0.340 | 0.426% |
FAQ
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