Westamerica Bancorporation Stock Forecast

Green day on Tuesday for Westamerica Bancorporation
(Updated on Jul 02, 2024)

WABC Signals & Forecast

The Westamerica Bancorporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $47.69 and $47.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 5.84%. 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 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. The stock had a Golden Star Signal on Thursday, June 27, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Westamerica Bancorporation stock

Westamerica Bancorporation finds support from accumulated volume at $48.53 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 $0.585 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.86%.

Our recommended stop-loss: $46.63 (-4.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (WABC) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Westamerica Bancorporation to open at $48.52, and during the day (based on 14 day Average True Range), to move between $47.55 and $49.61, which gives a possible trading interval of +/-$1.03 (+/-2.11%) up or down from last closing price. If Westamerica Bancorporation takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $48.53 (0.10%) than the resistance at $49.32 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Westamerica Bancorporation stock A Buy?

Westamerica Bancorporation 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.

Current score: 0.831 Hold/Accumulate Unchanged

Predicted Opening Price for Westamerica Bancorporation of Wednesday, July 3, 2024

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