Stronger technical forecast for Webster Financial Corporation stock price after Monday trading.
(Updated on Nov 27, 2023)
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The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $43.67 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Webster Financial Corporation stock with a 90% probability to be traded between $35.98 and $42.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
WBS Signals & Forecast
The Webster Financial Corporation 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 $43.19 and $40.09. 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 Monday, November 20, 2023, and so far it has fallen -1.10%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Webster Financial Corporation stock
Webster Financial Corporation finds support from accumulated volume at $42.63 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 $0.84 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: $41.49 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (WBS) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Webster Financial Corporation to open at $43.02, and during the day (based on 14 day Average True Range), to move between $42.08 and $44.40, which gives a possible trading interval of +/-$1.16 (+/-2.69%) up or down from last closing price. If Webster Financial Corporation takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.31 (0.16%) than the support at $42.63 (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 Webster Financial Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Webster Financial Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.458 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for Webster Financial Corporation of Tuesday, November 28, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 28, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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