Whitecap Resources Inc. Stock Forecast
Whitecap Resources Inc. stock price down 1.10% on Friday
(Updated on May 03, 2024)
The Whitecap Resources Inc. stock price fell by -1.10% on the last day (Friday, 3rd May 2024) from $10.03 to $9.92. During the last trading day the stock fluctuated 2.13% from a day low at $9.87 to a day high of $10.08. The price has fallen in 6 of the last 10 days and is down by -4.43% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -266 thousand shares and in total, 2 million shares were bought and sold for approximately $21.00 million.
Given the current short-term trend, the stock is expected to rise 24.96% during the next 3 months and, with a 90% probability hold a price between $12.40 and $13.85 at the end of this 3-month period.
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WCP.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Whitecap Resources Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $10.38 and $10.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -8.74%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Whitecap Resources Inc. stock
Whitecap Resources Inc. finds support from accumulated volume at $9.57 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 $0.210 (2.13%) between high and low. For the last week, the stock has had daily average volatility of 2.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WCP.TO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Whitecap Resources Inc. to open at $9.96, and during the day (based on 14 day Average True Range), to move between $9.68 and $10.16, which gives a possible trading interval of +/-$0.240 (+/-2.42%) up or down from last closing price. If Whitecap Resources Inc. takes out the full calculated possible swing range there will be an estimated 4.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.94 (0.20%) than the support at $9.57 (3.53%), 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 Whitecap Resources Inc. stock A Buy?
The Whitecap Resources Inc. stock holds several negative signals and despite the positive trend, we believe Whitecap Resources Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.789 Sell Candidate Unchanged
Predicted Opening Price for Whitecap Resources Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $9.96 ( 0.370%) | $9.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCP.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.17 | 2.49 % | |
| R2 | 10.09 | 1.68 % | ||
| R1 | 10.04 | 1.18 % | ||
| Current price: | 9.92 | |||
| Support | S1 | 9.88 | -0.439 % | |
| S2 | 9.83 | -0.94 % | ||
| S3 | 9.75 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.65 | 7.36 % | |
| R2 | 10.49 | 5.75 % | ||
| R1 | 9.94 | 0.202 % | ||
| Current price | 9.92 | |||
| Support | S1 | 9.57 | -3.53% | |
| S2 | 9.42 | -5.04% | ||
| S3 | 8.97 | -9.58% |
WCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 15, 2024 | $0.0608 | 0.613% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0608 | 0.580% |
| 3 | Feb 15, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.0610 | 0.614% |
| 4 | Jan 30, 2024 | Jan 30, 2024 | Feb 15, 2024 | $0.0608 | 0.694% |
| 5 | Dec 14, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.0610 | 0.682% |
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