Westinghouse Air Brake Technologies Corp Stock Forecast
A very strong day for Westinghouse Air Brake Technologies Corp stock price on Wednesday
(Updated on Apr 24, 2024)
The Westinghouse Air Brake Technologies Corp stock price gained 10.04% on the last trading day (Wednesday, 24th Apr 2024), rising from $148.48 to $163.38. It has now gained 3 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 last trading day the stock fluctuated 4.11% from a day low at $160.87 to a day high of $167.49. The price has been going up and down for this period, and there has been a 10.74% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $598.01 million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $154.35, a level that may pose a second chance to hit a runner. According to fan-theory $163.64 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WAB Signals & Forecast
The Westinghouse Air Brake Technologies 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 $148.00 and $145.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 13.32%. 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 Westinghouse Air Brake Technologies Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $137.07 and $135.09. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Westinghouse Air Brake Technologies Corp finds support just below today's level at $137.07. If this is broken, then the next support from accumulated volume will be at $135.09 and $133.96.
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 $6.62 between high and low, or 4.11%. For the last week the stock has had daily average volatility of 2.21%.
The Westinghouse Air Brake Technologies Corp stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $157.73 (-3.46%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (WAB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Westinghouse Air Brake Technologies Corporation to open at $163.91, and during the day (based on 14 day Average True Range), to move between $159.81 and $166.95, which gives a possible trading interval of +/-$3.57 (+/-2.19%) up or down from last closing price. If Westinghouse Air Brake Technologies Corporation takes out the full calculated possible swing range there will be an estimated 4.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $137.07, some $26.31 (16.10%) from the current price of $163.38, our system finds the risk reward attractive.
Is Westinghouse Air Brake Technologies Corporation stock A Buy?
Westinghouse Air Brake Technologies 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Westinghouse Air Brake Technologies Corporation of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$163.91 ( 0.325%) | $163.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 170.53 | 4.37 % | |
R2 | 168.00 | 2.83 % | ||
R1 | 166.44 | 1.87 % | ||
Current price: | 163.38 | |||
Support | S1 | 161.38 | -1.22 % | |
S2 | 159.82 | -2.18 % | ||
S3 | 157.30 | -3.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 163.38 | |||
Support | S1 | 137.07 | -16.10% | |
S2 | 135.09 | -17.32% | ||
S3 | 133.96 | -18.01% |
WAB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Feb 22, 2024 | Mar 08, 2024 | $0.200 | 0.140% |
2 | Oct 20, 2023 | Nov 15, 2023 | Nov 29, 2023 | $0.170 | 0.148% |
3 | Oct 20, 2023 | Nov 14, 2023 | Nov 29, 2023 | $0.170 | 0.148% |
4 | Jul 20, 2023 | Aug 11, 2023 | Aug 28, 2023 | $0.170 | 0.151% |
5 | May 17, 2023 | May 26, 2023 | Jun 09, 2023 | $0.170 | 0.172% |
FAQ
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