Webster Financial Corporation Stock Forecast
Weaker technical forecast for Webster Financial Corporation as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Webster Financial Corporation stock price fell by -1.06% on the last day (Friday, 28th Jun 2024) from $20.03 to $19.82. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.11% from a day low at $19.82 to a day high of $20.04. The price has fallen in 6 of the last 10 days and is down by -1.15% for this period. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately $76.39 thousand.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $19.84 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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WBS-PF Signals & Forecast
There are few to no technical positive signals at the moment. The Webster Financial Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $20.00 and $20.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.78%. 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). Webster Financial Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Webster Financial Corporation stock
Webster Financial Corporation finds support from accumulated volume at $19.80 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 $0.220 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.17%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WBS-PF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Webster Financial Corporation to open at $19.89, and during the day (based on 14 day Average True Range), to move between $19.48 and $20.16, which gives a possible trading interval of +/-$0.345 (+/-1.74%) up or down from last closing price. If Webster Financial Corporation takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.80 (0.10%) than the resistance at $19.94 (0.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Webster Financial Corporation stock A Buy?
Webster Financial Corporation holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.750 Sell Candidate Downgraded
Predicted Opening Price for Webster Financial Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $19.89 ( 0.370%) | $19.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WBS-PF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.11 | 1.48% |
| R2 | 20.03 | 1.06% |
| R1 | 19.98 | 0.794% |
| Price | 19.82 | |
| S1 | 19.81 | -0.0540% |
| S2 | 19.76 | -0.316% |
| S3 | 19.67 | -0.740% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.10 | 1.41% |
| R2 | 20.03 | 1.06% |
| R1 | 19.94 | 0.605% |
| Price | 19.82 | |
| S1 | 19.80 | -0.101% |
| S2 | 19.73 | -0.454% |
| S3 | 0 | - |
WBS-PF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 15, 2024 | $0.328 | 1.65% |
| 2 | Feb 29, 2024 | Feb 29, 2024 | Mar 15, 2024 | $0.328 | 1.61% |
| 3 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.328 | 1.76% |
| 4 | Aug 31, 2023 | Aug 31, 2023 | Sep 15, 2023 | $0.328 | 1.77% |
| 5 | May 31, 2023 | May 31, 2023 | Jun 15, 2023 | $0.328 | 1.84% |
FAQ
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