Westwing Group AG Stock Forecast
Weaker technical forecast for Westwing Group AG as stock downgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
The Westwing Group AG stock price fell by -0.494% on the last day (Thursday, 18th Apr 2024) from 8.10€ to 8.06€. During the last trading day the stock fluctuated 3.31% from a day low at 7.86€ to a day high of 8.12€. The price has been going up and down for this period, and there has been a 2.28% gain for the last 2 weeks. Volume has increased on the last day by 4 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, 13 thousand shares were bought and sold for approximately 106.34€ thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Westwing Group AG stock with a 90% probability to be traded between 7.67€ and 8.63€ 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.
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WEW.F Signals & Forecast
The Westwing Group AG 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 8.05€ and 7.83€. 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). 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, April 12, 2024, and so far it has fallen -1.71%. Further fall is indicated until a new bottom pivot has been found. Westwing Group AG 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".
A buy signal from a double bottom formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should go up by 1.67% to 8.19€ within 25 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Westwing Group AG stock
On the downside, the stock finds support just below today's level from accumulated volume at 7.65€ and 7.62€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Westwing Group AG finds support just below today's level at 7.65€. If this is broken, then the next support from accumulated volume will be at 7.62€ and 7.52€.
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 0.260€ between high and low, or 3.31%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: 7.78€ (-3.49%) (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 (WEW.F) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Westwing Group AG to open at 8.01€, and during the day (based on 14 day Average True Range), to move between 7.84€ and 8.28€, which gives a possible trading interval of +/-0.218€ (+/-2.70%) up or down from last closing price. If Westwing Group AG takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 8.15€ (1.12%) than the support at 7.65€ (5.09%), 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 Westwing Group AG stock A Buy?
Westwing Group AG 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.132 Hold/Accumulate Downgraded
Predicted Opening Price for Westwing Group AG of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| 8.01€ ( 0.579%) | 8.06€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEW.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.27 | 2.65 % | |
| R2 | 8.17 | 1.41 % | ||
| R1 | 8.11 | 0.653 % | ||
| Current price: | 8.06 | |||
| Support | S1 | 7.91 | -1.81 % | |
| S2 | 7.85 | -2.57 % | ||
| S3 | 7.75 | -3.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.25 | 2.36 % | |
| R2 | 8.20 | 1.74 % | ||
| R1 | 8.15 | 1.12 % | ||
| Current price | 8.06 | |||
| Support | S1 | 7.65 | -5.09% | |
| S2 | 7.62 | -5.46% | ||
| S3 | 7.52 | -6.70% |
FAQ
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