Weyco Group Stock Forecast
Weyco Group stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 20, 2024)
The Weyco Group stock price gained 0.199% on the last trading day (Monday, 20th May 2024), rising from $30.20 to $30.26. During the last trading day the stock fluctuated 2.61% from a day low at $29.75 to a day high of $30.53. The price has been going up and down for this period, and there has been a 3.84% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $565.44 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $30.25, a level that may pose a second chance to hit a runner. According to fan-theory $34.16 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WEYS Signals & Forecast
Mostly positive signals in the chart today. The Weyco Group 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 $29.45 and $29.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.99%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Weyco Group 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Weyco Group stock
Weyco Group finds support from accumulated volume at $29.70 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 $0.775 (2.61%) between high and low. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: $29.09 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (WEYS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Weyco Group to open at $30.18, and during the day (based on 14 day Average True Range), to move between $29.30 and $31.22, which gives a possible trading interval of +/-$0.96 (+/-3.17%) up or down from last closing price. If Weyco Group takes out the full calculated possible swing range there will be an estimated 6.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.60 (1.12%) than the support at $29.70 (1.85%), 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 Weyco Group stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.033 Buy Candidate Upgraded
Predicted Opening Price for Weyco Group of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $30.18 ( 0.270%) | $30.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEYS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.95 | 2.29 % | |
| R2 | 30.66 | 1.31 % | ||
| R1 | 30.47 | 0.708 % | ||
| Current price: | 30.26 | |||
| Support | S1 | 29.88 | -1.25 % | |
| S2 | 29.70 | -1.85 % | ||
| S3 | 29.40 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.44 | 7.20 % | |
| R2 | 31.88 | 5.35 % | ||
| R1 | 30.60 | 1.12 % | ||
| Current price | 30.26 | |||
| Support | S1 | 29.70 | -1.85% | |
| S2 | 29.52 | -2.45% | ||
| S3 | 29.14 | -3.70% |
WEYS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 28, 2024 | $0.260 | 0.86% |
| 2 | Mar 05, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 0.784% |
| 3 | Nov 07, 2023 | Nov 24, 2023 | Jan 02, 2024 | $0.250 | 0.80% |
| 4 | Aug 01, 2023 | Aug 24, 2023 | Sep 29, 2023 | $0.250 | 0.99% |
| 5 | May 02, 2023 | May 25, 2023 | Jun 30, 2023 | $0.250 | 0.94% |
FAQ
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