Western Alliance Bancorporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Western Alliance Bancorporation as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)
The Western Alliance Bancorporation stock price gained 0.541% on the last trading day (Friday, 21st Jun 2024), rising from $18.21 to $18.31. During the last trading day the stock fluctuated 0.769% from a day low at $18.21 to a day high of $18.35. The price has risen in 7 of the last 10 days and is up by 0.27% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 3 thousand shares were bought and sold for approximately $59.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow 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 3.30% during the next 3 months and, with a 90% probability hold a price between $18.25 and $19.14 at the end of this 3-month period.
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WAL-PA Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -0.767%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. 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 $18.26 and $18.21. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Western Alliance Bancorporation stock
Western Alliance Bancorporation finds support from accumulated volume at $18.05 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.140 between high and low, or 0.769%. For the last week the stock has had daily average volatility of 0.723%
Our recommended stop-loss: $17.60 (-3.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 35 days ago.)
Trading Expectations (WAL-PA) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Western Alliance Bancorporation to open at $18.29, and during the day (based on 14 day Average True Range), to move between $18.12 and $18.49, which gives a possible trading interval of +/-$0.184 (+/-1.01%) up or down from last closing price. If Western Alliance Bancorporation takes out the full calculated possible swing range there will be an estimated 2.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.40 (0.50%) than the support at $18.05 (1.41%), 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?
Western Alliance 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.088 Hold/Accumulate Downgraded
Predicted Opening Price for Western Alliance Bancorporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $18.29 ( 0.104%) | $18.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAL-PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.43 | 0.661% |
| R2 | 18.38 | 0.369% |
| R1 | 18.34 | 0.188% |
| Price | 18.31 | |
| S1 | 18.24 | -0.396% |
| S2 | 18.20 | -0.576% |
| S3 | 18.15 | -0.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.45 | 0.773% |
| R2 | 18.44 | 0.718% |
| R1 | 18.40 | 0.500% |
| Price | 18.31 | |
| S1 | 18.05 | -1.41% |
| S2 | 18.00 | -1.69% |
| S3 | 17.55 | -4.14% |
WAL-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 30, 2024 | $0.266 | 1.45% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.266 | 1.48% |
| 3 | Dec 14, 2023 | Dec 14, 2023 | Dec 30, 2023 | $0.266 | 1.54% |
| 4 | Sep 14, 2023 | Sep 14, 2023 | Sep 30, 2023 | $0.266 | 1.62% |
| 5 | Jun 14, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.266 | 1.86% |
FAQ
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