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Encore Wire Corporation Stock Forecast NASDAQ:WIRE

$131.65 (-2.18%)

Volume: 208k

Closed: Dec 08, 2021

Hollow Logo Score: -2.505

Encore Wire Corporation Stock Forecast

$131.65 (-2.18%)

Volume: 208k

Closed: Dec 08, 2021

Score Hollow Logo -2.505
Which way will WIRE go? Request
Key Stats
P/E Ratio 6.43
Beta 1.21
Trailing Dividend Rate 0.06% ($0.0800)
Next Dividend Date Jan 06, 2022
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 36 and the stock is currently not being overbought or oversold

Encore Wire Corporation stock price down 2.18% on Wednesday
(Updated on Dec 08, 2021)


Sell candidate since 2021-12-06 Gain 1.39%

The Encore Wire Corporation stock price fell by -2.18% on the last day (Wednesday, 8th Dec 2021) from $134.58 to $131.65. During the day the stock fluctuated 3.49% from a day low at $131.27 to a day high of $135.85. The price has fallen in 6 of the last 10 days and is down by -11.04% for this period. 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 -52 thousand shares and in total, 208 thousand shares were bought and sold for approximately $27.36 million.

Given the current short-term trend, the stock is expected to rise 81.48% during the next 3 months and, with a 90% probability hold a price between $238.92 and $289.16 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Encore Wire Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $137.85 and $136.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 23, 2021, and so far it has fallen -11.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Encore Wire Corporation finds support from accumulated volume at $131.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $4.58 between high and low, or 3.49%. For the last week, the stock has had a daily average volatility of 6.07%.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Encore Wire Corporation stock A Buy?

The Encore Wire Corporation stock holds several negative signals and despite the positive trend, we believe Encore Wire Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.505

Predicted Opening Price for Encore Wire Corporation of Thursday, December 9, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 9, 2021 Current price
$132.92 $131.65 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Oct 28, 2021 "DA Davidson" gave "$115.00 - $150.00" rating for WIRE. The price target was set to $122.94+6.6%.

Volatility and Risk
Daily Average Volatility: 6.07 %
Overall Risk: Very High High Medium Low Very Low
Volatility
6.07 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $134.06
Price: $131.65
Support: $131.61

WIRE Insider Trading Show all Trades

INSIDER POWER

1.889

Last 100 transactions
Buy: 345 750 | Sell: 183 032 (Shares)
Date Action Amount Person Type
Jun 10, 2021 Buy 3 000 Ford Matthew D. Common Stock, par value $0.01 per share
Jun 10, 2021 Sell 3 000 Ford Matthew D. Stock Option (right to buy)
May 04, 2021 Buy 1 250 Weaver Scott D Common Stock, par value $0.01 per share
May 04, 2021 Buy 1 250 Wilson John H Common Stock, par value $0.01 per share
May 04, 2021 Buy 1 250 Fisher Gregory J Common Stock, par value $0.01 per share
Show all Insider Trades
INSIDER POWER

1.889

Last 100 transactions
Buy: 345 750 | Sell: 183 032 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 137.50 4.45 %
135.75 3.12 %
134.67 2.30 %
Current price: 131.65
Support 131.17 -0.36 %
130.09 -1.18 %
128.34 -2.51 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 140.46 6.69 %
140.22 6.51 %
134.06 1.83 %
Current price 131.65
Support 131.61 -0.0304%
129.85 -1.37%
122.94 -6.62%

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About Encore Wire Corporation

Encore Wire Corporation manufactures and sells electrical building wire and cable products for interior electrical wiring in the United States. The company’s products include NM-B cable, a non-metallic sheathed cable for use as interior wiring in homes, apartments, and manufactured housing; UF-B cable, an underground feeder cable for conduct power underground to outside lighting and other applications remote from buildings; and SE Style cable, a... Read more

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