West Fraser Timber Co. Ltd. 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
West Fraser Timber Co. Ltd. stock price up 0.0378% on Tuesday
(Updated on Jun 25, 2024)
The West Fraser Timber Co. Ltd. stock price gained 0.0378% on the last trading day (Tuesday, 25th Jun 2024), rising from $105.80 to $105.84. During the last trading day the stock fluctuated 1.26% from a day low at $105.16 to a day high of $106.49. The price has been going up and down for this period, and there has been a -1.4% loss for the last 2 weeks. Volume fell on the last day by -67 thousand shares and in total, 124 thousand shares were bought and sold for approximately $13.10 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -4.60% during the next 3 months and, with a 90% probability hold a price between $96.84 and $105.81 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 0.666%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $106.57 and $108.60. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for West Fraser Timber Co. Ltd. stock
West Fraser Timber Co. Ltd. finds support from accumulated volume at $105.80 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 $1.33 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.71%.
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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect West Fraser Timber Co. Ltd. to open at $105.83, and during the day (based on 14 day Average True Range), to move between $103.64 and $108.04, which gives a possible trading interval of +/-$2.20 (+/-2.08%) 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 4.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $105.80 (0.04%) than the resistance at $107.04 (1.13%), 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: -3.085 Sell Candidate Unchanged
Predicted Opening Price for West Fraser Timber Co. Ltd. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$105.83 ( 0.0094%) | $105.84 |
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 | 107.16 | 1.25% |
R2 | 106.65 | 0.767% |
R1 | 106.34 | 0.471% |
Price | 105.84 | |
S1 | 105.32 | -0.489% |
S2 | 105.01 | -0.786% |
S3 | 104.50 | -1.27% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 112.05 | 5.87% |
R2 | 110.65 | 4.54% |
R1 | 107.04 | 1.13% |
Price | 105.84 | |
S1 | 105.80 | -0.0378% |
S2 | 105.44 | -0.378% |
S3 | 104.90 | -0.89% |
WFG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 26, 2024 | Jun 26, 2024 | Jul 12, 2024 | $0.440 | 0.416% |
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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