Bath & Body Works Inc Stock Forecast
Bath & Body Works Inc stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Bath & Body Works Inc stock price gained 4.88% on the last trading day (Friday, 3rd May 2024), rising from $43.83 to $45.97. During the last trading day the stock fluctuated 4.00% from a day low at $44.27 to a day high of $46.04. The price has risen in 5 of the last 10 days and is up by 4.5% 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, 106 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $117.16 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bath & Body Works Inc stock with a 90% probability to be traded between $43.49 and $50.60 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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BBWI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 6.44%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bath & Body Works Inc 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 $46.09. On a fall, the stock will find some support from the short-term average at $45.30. 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.
Support, Risk & Stop-loss for Bath & Body Works Inc stock
Bath & Body Works Inc finds support from accumulated volume at $45.70 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 $1.77 (4.00%) between high and low. For the last week, the stock has had daily average volatility of 3.73%.
Our recommended stop-loss: $43.75 (-4.83%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (BBWI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bath & Body Works Inc to open at $45.43, and during the day (based on 14 day Average True Range), to move between $44.50 and $47.44, which gives a possible trading interval of +/-$1.47 (+/-3.19%) up or down from last closing price. If Bath & Body Works Inc takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.70 (0.59%) than the resistance at $46.37 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bath & Body Works Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Bath & Body Works Inc stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.807 Buy Candidate Upgraded
Predicted Opening Price for Bath & Body Works Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$45.43 ( 1.18%) | $45.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BBWI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.20 | 2.67 % | |
R2 | 46.52 | 1.20 % | ||
R1 | 46.10 | 0.289 % | ||
Current price: | 45.97 | |||
Support | S1 | 44.75 | -2.65 % | |
S2 | 44.33 | -3.56 % | ||
S3 | 43.66 | -5.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 47.36 | 3.02 % | |
R2 | 46.75 | 1.70 % | ||
R1 | 46.37 | 0.87 % | ||
Current price | 45.97 | |||
Support | S1 | 45.70 | -0.587% | |
S2 | 45.49 | -1.04% | ||
S3 | 43.83 | -4.66% |
BBWI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 09, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.200 | 0.447% |
2 | Nov 03, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.200 | 0.590% |
3 | Aug 04, 2023 | Aug 17, 2023 | Sep 01, 2023 | $0.200 | 0.524% |
4 | May 12, 2023 | Jun 01, 2023 | Jun 16, 2023 | $0.200 | 0.513% |
5 | Feb 03, 2023 | Feb 16, 2023 | Mar 03, 2023 | $0.200 | 0.505% |
FAQ
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