Green day on Friday for Expeditors International of Washington
(Updated on May 27, 2022)
Buy or Hold candidate since 2022-05-03 Gain 7.79% PDF
The Expeditors International of Washington stock price gained 1.78% on the last trading day (Friday, 27th May 2022), rising from $108.71 to $110.65. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 2.07% from a day low at $108.64 to a day high of $110.89. The price has risen in 6 of the last 10 days, but is still down by -0.84% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 871 thousand shares were bought and sold for approximately $96.39 million.
The stock lies in the middle of a wide and 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 6.54% during the next 3 months and, with a 90% probability hold a price between $111.19 and $123.30 at the end of this 3-month period.
Signals & Forecast
The Expeditors International of Washington 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 $106.50 and $103.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 19, 2022, and so far it has risen 6.71%. 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
Expeditors International of Washington finds support from accumulated volume at $109.76 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 $2.25 between high and low, or 2.07%. For the last week, the stock has had a daily average volatility of 2.48%.
Our recommended stop-loss: $106.13 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations For The Upcoming Trading Day Of Tuesday 31st
For the upcoming trading day on Tuesday 31st we expect Expeditors International of Washington to open at $110.06, and during day (based on 14 day Average True Range), to move between $107.16 and $114.14, which gives a possible trading interval of +/-$3.49 (+/-3.16%) up or down from last closing price. If Expeditors International of Washington takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $110.81 (0.14%) than the support at $109.76 (0.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.
Is Expeditors International of Washington 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 Expeditors International of Washington stock to perform well in the short-term.
Current score: 4.128Buy Candidate Unchanged
Predicted Opening Price for Expeditors International of Washington of Tuesday, May 31, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price May 31, 2022||Current price|
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