West Fraser Timber Co. Ltd. Stock Forecast
West Fraser Timber Co. Ltd. stock price ended at $107.10 on Thursday, after gaining 1.86%.
(Updated on Jun 20, 2024)
The West Fraser Timber Co. Ltd. stock price gained 1.86% on the last trading day (Thursday, 20th Jun 2024), rising from $105.14 to $107.10. During the last trading day the stock fluctuated 1.49% from a day low at $105.66 to a day high of $107.23. The price has been going up and down for this period, and there has been a -1.49% loss 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, 76 thousand more shares were traded than the day before. In total, 147 thousand shares were bought and sold for approximately $15.69 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.82% during the next 3 months and, with a 90% probability hold a price between $95.01 and $104.20 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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WFG.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.86%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The West Fraser Timber Co. Ltd. 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 $107.91 and $108.67. 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).
A buy signal from a double bottom formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should go up by 10.22% to $118.05 within 36 trading days since signal was issued (Monday, August 12, 2024).
Support, Risk & Stop-loss for West Fraser Timber Co. Ltd. stock
West Fraser Timber Co. Ltd. finds support from accumulated volume at $107.00 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 $1.57 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WFG.TO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect West Fraser Timber Co. Ltd. to open at $106.66, and during the day (based on 14 day Average True Range), to move between $104.78 and $109.42, which gives a possible trading interval of +/-$2.32 (+/-2.17%) up or down from last closing price. If West Fraser Timber Co. Ltd. takes out the full calculated possible swing range there will be an estimated 4.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $107.00 (0.09%) than the resistance at $107.50 (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is West Fraser Timber Co. Ltd. stock A Buy?
West Fraser Timber Co. Ltd. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.882 Sell Candidate Unchanged
Predicted Opening Price for West Fraser Timber Co. Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $106.66 ( 0.408%) | $107.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WFG.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 108.23 | 1.06% |
| R2 | 107.63 | 0.498% |
| R1 | 107.26 | 0.152% |
| Price | 107.10 | |
| S1 | 106.06 | -0.97% |
| S2 | 105.69 | -1.31% |
| S3 | 105.09 | -1.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 112.05 | 4.62% |
| R2 | 110.65 | 3.31% |
| R1 | 107.50 | 0.373% |
| Price | 107.10 | |
| S1 | 107.00 | -0.0934% |
| S2 | 106.42 | -0.635% |
| S3 | 104.90 | -2.05% |
WFG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2024 | Jun 26, 2024 | Jul 12, 2024 | $0.440 | 0.411% |
| 2 | Feb 14, 2024 | Mar 14, 2024 | Apr 04, 2024 | $0.404 | 0.361% |
| 3 | Dec 12, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.407 | 0.348% |
| 4 | Sep 12, 2023 | Sep 26, 2023 | Oct 13, 2023 | $0.405 | 0.446% |
| 5 | Jun 07, 2023 | Jun 20, 2023 | Jul 07, 2023 | $0.396 | 0.353% |
FAQ
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