Warner Music Group Corp. Stock Forecast
Green day on Monday for Warner Music Group Corp. stock after gaining 3.84%
(Updated on May 06, 2024)
The Warner Music Group Corp. stock price gained 3.84% on the last trading day (Monday, 6th May 2024), rising from $34.14 to $35.45. During the last trading day the stock fluctuated 2.77% from a day low at $34.66 to a day high of $35.62. The price has risen in 6 of the last 10 days and is up by 7.23% 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, 403 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $66.24 million.
The stockhas broken the 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 $34.35, a level that may pose a second chance to hit a runner. According to fan-theory $37.89 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WMG Signals & Forecast
The Warner Music Group 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 $33.49 and $33.31. 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 12.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Warner Music Group Corp. stock
Warner Music Group Corp. finds support from accumulated volume at $35.10 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 $0.96 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: $34.13 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (WMG) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Warner Music Group Corp. to open at $35.24, and during the day (based on 14 day Average True Range), to move between $34.45 and $36.45, which gives a possible trading interval of +/-$1.00 (+/-2.81%) up or down from last closing price. If Warner Music Group Corp. takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.54 (0.25%) than the support at $35.10 (0.99%), 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.
Earnings coming up
Warner Music Group Corp. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.100. We will update the financials statements for Warner Music Group Corp. , that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.93% in the first trading day after earnings release.
Is Warner Music Group Corp. stock A Buy?
Warner Music Group Corp. 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 Warner Music Group Corp. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $35.24 ( 0.583%) | $35.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.20 | 2.13 % | |
| R2 | 35.84 | 1.09 % | ||
| R1 | 35.61 | 0.451 % | ||
| Current price: | 35.45 | |||
| Support | S1 | 34.88 | -1.62 % | |
| S2 | 34.65 | -2.26 % | ||
| S3 | 34.28 | -3.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.19 | 2.09 % | |
| R2 | 35.71 | 0.733 % | ||
| R1 | 35.54 | 0.254 % | ||
| Current price | 35.45 | |||
| Support | S1 | 35.10 | -0.99% | |
| S2 | 34.60 | -2.40% | ||
| S3 | 33.00 | -6.91% |
WMG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Mar 01, 2024 | $0.170 | 0.479% |
| 2 | Nov 09, 2023 | Nov 20, 2023 | Dec 01, 2023 | $0.170 | 0.491% |
| 3 | Aug 14, 2023 | Aug 23, 2023 | Sep 01, 2023 | $0.170 | 0.505% |
| 4 | Aug 06, 2023 | May 22, 2023 | Jun 01, 2023 | $0.160 | 0.656% |
| 5 | May 16, 2023 | Feb 17, 2023 | Mar 01, 2023 | $0.160 | 0.513% |
FAQ
Click here for our free guide on how to buy Warner Music Group Corp. Stock.
