WEC Energy Group Inc Stock Forecast

Buy candidate since Dec 12, 2024

The WEC Energy Group Inc stock price gained 0.267% on the last trading day (Thursday, 12th Dec 2024), rising from $95.62 to $95.88. During the last trading day the stock fluctuated 1.11% from a day low at $95.70 to a day high of $96.76. The price has fallen in 6 of the last 10 days and is down by -5.84% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 165 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $114.12 million.

The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $95.68 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.12% during the next 3 months and, with a 90% probability hold a price between $99.63 and $106.70 at the end of this 3-month period.

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WEC Signals & Forecast

The WEC Energy Group Inc 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 $96.99 and $97.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, December 11, 2024, and so far it has risen 0.267%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for WEC Energy Group Inc stock

WEC Energy Group Inc finds support from accumulated volume at $94.72 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 $1.06 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.70%.

WEC Energy Group Inc is oversold on RSI14 (20). Some stock may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $89.64 (-6.50%) (This stock has very low daily movements and this gives very low risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (WEC) For The Upcoming Trading Day Of Friday 13th

For the upcoming trading day on Friday, 13th we expect WEC Energy Group Inc to open at $96.11, and during the day (based on 14 day Average True Range), to move between $94.37 and $97.38, which gives a possible trading interval of +/-$1.51 (+/-1.57%) up or down from last closing price. If WEC Energy Group Inc takes out the full calculated possible swing range there will be an estimated 3.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $95.99 (0.12%) than the support at $94.72 (1.20%), 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 WEC Energy Group Inc stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.480 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 13, 2024 - $96.11 ( 0.247%).