Winnebago Industries Inc Stock Forecast
Green day on Thursday for Winnebago Industries Inc
(Updated on Mar 28, 2024)
The Winnebago Industries Inc stock price gained 2.45% on the last trading day (Thursday, 28th Mar 2024), rising from $72.23 to $74.00. 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 2.62% from a day low at $72.21 to a day high of $74.10. The price has risen in 8 of the last 10 days and is up by 17.68% over the past 2 weeks. Volume fell on the last day by -172 thousand shares and in total, 598 thousand shares were bought and sold for approximately $44.23 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $71.72 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $80.70 sometime during the next 3 months.
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WGO Signals & Forecast
The Winnebago Industries Inc 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 $70.26 and $68.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 17.68%. 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.
Support, Risk & Stop-loss for Winnebago Industries Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $67.64 and $67.58. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Winnebago Industries Inc finds support just below today's level at $67.64. If this is broken, then the next support from accumulated volume will be at $67.58 and $64.87.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.90 between high and low, or 2.62%. For the last week, the stock has had daily average volatility of 2.39%.
The Winnebago Industries Inc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $71.79 (-2.98%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (WGO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Winnebago Industries Inc to open at $73.44, and during the day (based on 14 day Average True Range), to move between $72.00 and $76.00, which gives a possible trading interval of +/-$2.00 (+/-2.71%) up or down from last closing price. If Winnebago Industries Inc takes out the full calculated possible swing range there will be an estimated 5.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $67.64, some $6.36 (8.59%) from the current price of $74.00, our system finds the risk reward attractive.
Is Winnebago Industries Inc stock A Buy?
Winnebago Industries Inc 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Winnebago Industries Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$73.44 ( 0.764%) | $74.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WGO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 75.33 | 1.80 % | |
R2 | 74.61 | 0.82 % | ||
R1 | 74.16 | 0.215 % | ||
Current price: | 74.00 | |||
Support | S1 | 72.71 | -1.74 % | |
S2 | 72.26 | -2.35 % | ||
S3 | 71.54 | -3.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 74.00 | |||
Support | S1 | 67.64 | -8.59% | |
S2 | 67.58 | -8.68% | ||
S3 | 64.87 | -12.34% |
WGO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | Apr 09, 2024 | Apr 24, 2024 | $0.310 | 0.419% |
2 | Dec 15, 2023 | Jan 11, 2024 | Jan 26, 2024 | $0.310 | 0.466% |
3 | Aug 16, 2023 | Sep 12, 2023 | Sep 27, 2023 | $0.310 | 0.528% |
4 | May 17, 2023 | Jun 13, 2023 | Jun 28, 2023 | $0.270 | 0.413% |
5 | Mar 15, 2023 | Apr 11, 2023 | Apr 26, 2023 | $0.270 | 0.479% |
FAQ
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