Westinghouse Air Brake Technologies Corp Stock Forecast

Green day on Thursday for Westinghouse Air Brake Technologies Corp stock after gaining 0.83%
(Updated on May 02, 2024)

WAB Signals & Forecast

The Westinghouse Air Brake Technologies Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $162.52. On a fall, the stock will find some support from the long-term average at approximately $148.72. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -1.51%. Further fall is indicated until a new bottom pivot has been found.

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.

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 $2.59 between high and low, or 1.62%. For the last week, the stock has had daily average volatility of 1.58%.

Our recommended stop-loss: $156.34 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (WAB) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Westinghouse Air Brake Technologies Corporation to open at $161.14, and during the day (based on 14 day Average True Range), to move between $158.63 and $165.13, which gives a possible trading interval of +/-$3.25 (+/-2.01%) 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 4.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $163.18 (0.80%) than the support at $137.07 (15.33%), 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 Westinghouse Air Brake Technologies Corporation 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 Westinghouse Air Brake Technologies Corp stock to perform well in the short-term.

Current score: 2.547 Buy Candidate Unchanged

Predicted Opening Price for Westinghouse Air Brake Technologies Corporation of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.