Canadian Western Bank Stock Forecast
Evaluation of Canadian Western Bank stock downgraded after the last trading session.
(Updated on May 14, 2024)
The Canadian Western Bank stock price fell by -1.39% on the last day (Tuesday, 14th May 2024) from $27.41 to $27.03. During the last trading day the stock fluctuated 2.15% from a day low at $26.92 to a day high of $27.50. The price has risen in 6 of the last 10 days and is up by 2.35% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -110 thousand shares and in total, 265 thousand shares were bought and sold for approximately $7.16 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $27.37 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.24% during the next 3 months and, with a 90% probability hold a price between $23.19 and $25.11 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CWB.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.64%. 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. The Canadian Western Bank stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $27.23 and $27.13. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Canadian Western Bank stock
Canadian Western Bank finds support from accumulated volume at $27.00 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 $0.580 between high and low, or 2.15%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CWB.TO) For The Upcoming Trading Day Of Wednesday 15th
For the upcoming trading day on Wednesday, 15th we expect Canadian Western Bank to open at $27.15, and during the day (based on 14 day Average True Range), to move between $26.65 and $27.41, which gives a possible trading interval of +/-$0.381 (+/-1.41%) up or down from last closing price. If Canadian Western Bank takes out the full calculated possible swing range there will be an estimated 2.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.00 (0.11%) than the resistance at $27.18 (0.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Canadian Western Bank stock A Buy?
Canadian Western Bank 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 Buy to a Sell candidate.
Current score: -3.804 Sell Candidate Downgraded
Predicted Opening Price for Canadian Western Bank of Wednesday, May 15, 2024
| Fair opening price May 15, 2024 | Current price |
|---|---|
| $27.15 ( 0.444%) | $27.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWB.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.73 | 2.59 % | |
| R2 | 27.51 | 1.77 % | ||
| R1 | 27.37 | 1.26 % | ||
| Current price: | 27.03 | |||
| Support | S1 | 26.93 | -0.376 % | |
| S2 | 26.79 | -0.88 % | ||
| S3 | 26.57 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.89 | 3.18 % | |
| R2 | 27.69 | 2.44 % | ||
| R1 | 27.18 | 0.555 % | ||
| Current price | 27.03 | |||
| Support | S1 | 27.00 | -0.111% | |
| S2 | 26.90 | -0.481% | ||
| S3 | 26.08 | -3.51% |
CWB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2023 | Jun 07, 2023 | Jun 22, 2023 | $0.330 | 1.39% |
| 2 | Mar 02, 2023 | Mar 08, 2023 | Mar 23, 2023 | $0.320 | 1.33% |
| 3 | Dec 01, 2022 | Dec 14, 2022 | Jan 05, 2023 | $0.320 | 1.25% |
| 4 | Aug 26, 2022 | Sep 07, 2022 | Sep 22, 2022 | $0.310 | 1.33% |
| 5 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | $0.310 | 1.04% |
FAQ
Click here for our free guide on how to buy Canadian Western Bank Stock.
