Westwing Group AG Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Westwing Group AG stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Westwing Group AG stock price gained 4.83% on the last trading day (Tuesday, 30th Apr 2024), rising from 8.28€ to 8.68€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.60% from a day low at 8.22€ to a day high of 8.68€. The price has risen in 6 of the last 10 days and is up by 7.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately 30.02€ thousand.
Given the current horizontal trend, you can expect Westwing Group AG stock with a 90% probability to be traded between 7.68€ and 8.84€ 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 8.26€ and 7.92€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 16.04%. Further rise is indicated until a new top pivot has been found. Westwing Group AG has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Westwing Group AG stock
Westwing Group AG finds support from accumulated volume at 8.25€ 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 0.460€ (5.60%) between high and low. For the last week, the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: 8.36€ (-3.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (WEW.F) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Westwing Group AG to open at 8.53€, and during the day (based on 14 day Average True Range), to move between 8.43€ and 8.93€, which gives a possible trading interval of +/-0.252€ (+/-2.91%) up or down from last closing price. If Westwing Group AG takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ 8.25€, some 0.430€ (4.95%) from the current price of 8.68€, our system finds the risk reward attractive.
Earnings coming up
Westwing Group AG will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Westwing Group AG, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.98% in the first trading day after earnings release.
Is Westwing Group AG stock A Buy?
Westwing Group AG holds several positive signals and is considered to be a good choice at current levels. We expect the Westwing Group AG stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.329 Strong Buy Candidate Upgraded
Predicted Opening Price for Westwing Group AG of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 8.53€ ( 1.77%) | 8.68€ |
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 | 8.99 | 3.53 % | |
| R2 | 8.81 | 1.51 % | ||
| R1 | 8.70 | 0.258 % | ||
| Current price: | 8.68 | |||
| Support | S1 | 8.35 | -3.79 % | |
| S2 | 8.24 | -5.04 % | ||
| S3 | 8.07 | -7.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 8.68 | |||
| Support | S1 | 8.25 | -4.95% | |
| S2 | 8.20 | -5.53% | ||
| S3 | 7.90 | -8.99% |
FAQ
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