WR Berkley Corporation Stock Forecast
WR Berkley Corporation stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The WR Berkley Corporation stock price gained 1.05% on the last trading day (Wednesday, 1st May 2024), rising from $76.97 to $77.78. During the last trading day the stock fluctuated 2.24% from a day low at $76.87 to a day high of $78.59. The price has risen in 6 of the last 10 days but is still down by -3.63% for this period. Volume fell on the last day by -549 thousand shares and in total, 940 thousand shares were bought and sold for approximately $73.10 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $76.58 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect WR Berkley Corporation stock with a 90% probability to be traded between $75.37 and $86.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WRB Signals & Forecast
There are mixed signals in the stock today. The WR Berkley Corporation 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 $83.58. On a fall, the stock will find some support from the short-term average at $77.66. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.47%. Further rise is indicated until a new top pivot has been found. 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 WR Berkley Corporation stock
WR Berkley Corporation finds support from accumulated volume at $77.38 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 $1.72 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 1.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WRB) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect WR Berkley Corporation to open at $77.75, and during the day (based on 14 day Average True Range), to move between $76.24 and $79.32, which gives a possible trading interval of +/-$1.54 (+/-1.98%) up or down from last closing price. If WR Berkley Corporation takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $77.85 (0.09%) than the support at $77.38 (0.51%), 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 WR Berkley Corporation stock A Buy?
WR Berkley Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.800 Sell Candidate Downgraded
Predicted Opening Price for WR Berkley Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $77.75 ( 0.0429%) | $77.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WRB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 79.47 | 2.17 % | |
| R2 | 78.81 | 1.32 % | ||
| R1 | 78.40 | 0.80 % | ||
| Current price: | 77.78 | |||
| Support | S1 | 77.09 | -0.89 % | |
| S2 | 76.68 | -1.41 % | ||
| S3 | 76.03 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.51 | 9.94 % | |
| R2 | 79.08 | 1.67 % | ||
| R1 | 77.85 | 0.0900 % | ||
| Current price | 77.78 | |||
| Support | S1 | 77.38 | -0.514% | |
| S2 | 76.97 | -1.04% | ||
| S3 | 76.65 | -1.45% |
WRB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 01, 2024 | Mar 13, 2024 | $0.110 | 0.129% |
| 2 | Dec 08, 2023 | Dec 18, 2023 | Dec 27, 2023 | $0.110 | 0.157% |
| 3 | Dec 08, 2023 | Dec 15, 2023 | Dec 27, 2023 | $0.440 | 0.628% |
| 4 | Sep 13, 2023 | Sep 22, 2023 | Oct 04, 2023 | $0.610 | 0.96% |
| 5 | Jun 14, 2023 | Jun 23, 2023 | Jun 30, 2023 | $0.110 | 0.185% |
FAQ
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