Western Alliance Bancorporation Stock Forecast
Western Alliance Bancorporation stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Western Alliance Bancorporation stock price gained 2.44% on the last trading day (Tuesday, 2nd Jul 2024), rising from $62.60 to $64.13. During the last trading day the stock fluctuated 3.45% from a day low at $62.30 to a day high of $64.45. The price has risen in 6 of the last 10 days and is up by 7.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 226 thousand more shares were traded than the day before. In total, 908 thousand shares were bought and sold for approximately $58.25 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 4.46% during the next 3 months and, with a 90% probability hold a price between $60.28 and $69.29 at the end of this 3-month period.
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WAL Signals & Forecast
Mostly positive signals in the chart today. The Western Alliance Bancorporation 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 $61.80 and $61.53. 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 11.84%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Western Alliance Bancorporation stock
Western Alliance Bancorporation finds support from accumulated volume at $61.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.15 (3.45%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: $61.85 (-3.56%) (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 (WAL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Western Alliance Bancorporation to open at $63.63, and during the day (based on 14 day Average True Range), to move between $62.44 and $65.82, which gives a possible trading interval of +/-$1.69 (+/-2.63%) up or down from last closing price. If Western Alliance Bancorporation takes out the full calculated possible swing range there will be an estimated 5.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64.45 (0.50%) than the support at $61.06 (4.79%), 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 Western Alliance Bancorporation 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 Western Alliance Bancorporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.285 Buy Candidate Upgraded
Predicted Opening Price for Western Alliance Bancorporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $63.63 ( 0.785%) | $64.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 65.78 | 2.57% |
| R2 | 64.96 | 1.29% |
| R1 | 64.45 | 0.496% |
| Price | 64.13 | |
| S1 | 62.81 | -2.07% |
| S2 | 62.30 | -2.86% |
| S3 | 61.48 | -4.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.79 | 1.03% |
| R2 | 64.69 | 0.87% |
| R1 | 64.45 | 0.499% |
| Price | 64.13 | |
| S1 | 61.06 | -4.79% |
| S2 | 59.37 | -7.42% |
| S3 | 57.44 | -10.43% |
WAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.370 | 0.587% |
| 2 | Feb 05, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.370 | 0.656% |
| 3 | Oct 27, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.370 | 0.674% |
| 4 | Aug 01, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.360 | 0.733% |
| 5 | May 02, 2023 | May 11, 2023 | May 26, 2023 | $0.360 | 1.01% |
FAQ
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