Weibo Corporation Stock Forecast
Weibo Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Weibo Corporation stock price gained 4.05% on the last trading day (Wednesday, 27th Mar 2024), rising from $9.13 to $9.50. 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 8.45% from a day low at $8.93 to a day high of $9.68. The price has been going up and down for this period, and there has been a -2.06% loss 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, 23 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $30.26 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $9.87 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.11% during the next 3 months and, with a 90% probability hold a price between $7.65 and $9.56 at the end of this 3-month period.
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WB Signals & Forecast
The Weibo Corporation 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 $9.14 and $9.17. A breakdown below any of these levels will issue sell signals. 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. 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, March 15, 2024, and so far it has fallen -4.14%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Weibo Corporation stock
Weibo Corporation finds support from accumulated volume at $9.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.754 between high and low, or 8.45%. For the last week, the stock has had daily average volatility of 4.35%.
Our recommended stop-loss: $9.04 (-4.85%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (WB) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Weibo Corporation to open at $9.37, and during the day (based on 14 day Average True Range), to move between $9.03 and $9.97, which gives a possible trading interval of +/-$0.470 (+/-4.95%) up or down from last closing price. If Weibo Corporation takes out the full calculated possible swing range there will be an estimated 9.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.51 (0.11%) than the support at $9.31 (2.00%), 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 Weibo Corporation stock A Buy?
Weibo Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.653 Hold/Accumulate Upgraded
Predicted Opening Price for Weibo Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$9.37 ( 1.39%) | $9.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.12 | 6.55 % | |
R2 | 9.83 | 3.52 % | ||
R1 | 9.66 | 1.64 % | ||
Current price: | 9.50 | |||
Support | S1 | 9.08 | -4.42 % | |
S2 | 8.90 | -6.30 % | ||
S3 | 8.61 | -9.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.95 | 15.26 % | |
R2 | 9.67 | 1.79 % | ||
R1 | 9.51 | 0.105 % | ||
Current price | 9.50 | |||
Support | S1 | 9.31 | -2.00% | |
S2 | 9.13 | -3.89% | ||
S3 | 9.12 | -4.00% |
WB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | May 13, 2024 | $0.80 | 8.43% |
2 | May 26, 2023 | Jun 23, 2023 | Jul 26, 2023 | $0.85 | 5.86% |
FAQ
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