Weyco Group 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
Evaluation of Weyco Group stock downgraded after the last trading session.
(Updated on May 21, 2024)
The Weyco Group stock price fell by -2.08% on the last day (Tuesday, 21st May 2024) from $30.26 to $29.63. During the last trading day the stock fluctuated 3.11% from a day low at $29.62 to a day high of $30.54. The price has been going up and down for this period, and there has been a 2.56% gain for the last 2 weeks. 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 -9 thousand shares and in total, 10 thousand shares were bought and sold for approximately $285.90 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $30.33 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.89% during the next 3 months and, with a 90% probability hold a price between $24.38 and $27.94 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WEYS Signals & Forecast
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 $29.60 and $29.23. 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 5.75%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Weyco Group stock
Weyco Group finds support from accumulated volume at $29.52 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.92 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: $28.45 (-3.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (WEYS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Weyco Group to open at $29.93, and during the day (based on 14 day Average True Range), to move between $28.67 and $30.59, which gives a possible trading interval of +/-$0.96 (+/-3.23%) up or down from last closing price. If Weyco Group takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.70 (0.24%) than the support at $29.52 (0.37%), 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?
Weyco Group 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: -0.173 Hold/Accumulate Downgraded
Predicted Opening Price for Weyco Group of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $29.93 ( 1.01%) | $29.63 |
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 | 30.85 | 4.12 % | |
| R2 | 30.50 | 2.93 % | ||
| R1 | 30.28 | 2.20 % | ||
| Current price: | 29.63 | |||
| Support | S1 | 29.58 | -0.174 % | |
| S2 | 29.36 | -0.91 % | ||
| S3 | 29.01 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.60 | 3.27 % | |
| R2 | 30.26 | 2.13 % | ||
| R1 | 29.70 | 0.236 % | ||
| Current price | 29.63 | |||
| Support | S1 | 29.52 | -0.371% | |
| S2 | 29.14 | -1.65% | ||
| S3 | 28.14 | -5.03% |
WEYS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 28, 2024 | $0.260 | 0.88% |
| 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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