Encore Wire Corporation 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
Encore Wire Corporation stock price ended at $289.84 on Tuesday, after losing 0%.
(Updated on Jul 02, 2024)
No changes to the price of Encore Wire Corporation stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0% from a day low at $289.84 to a day high of $289.84. The price has risen in 7 of the last 10 days and is up by 0.22% over the past 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.78% during the next 3 months and, with a 90% probability hold a price between $295.03 and $329.18 at the end of this 3-month period.
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WIRE Signals & Forecast
The Encore Wire Corporation 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 $289.73 and $286.17. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Encore Wire Corporation stock
Encore Wire Corporation finds support from accumulated volume at $289.83 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 therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0535%
The Encore Wire Corporation stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.
Our recommended stop-loss: $280.39 (-3.26%) (This stock has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 54 days ago.)
Trading Expectations (WIRE) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Encore Wire Corporation to open at $289.84, and during the day (based on 14 day Average True Range), to move between $288.83 and $290.85, which gives a possible trading interval of +/-$1.01 (+/-0.35%) up or down from last closing price. If Encore Wire Corporation takes out the full calculated possible swing range there will be an estimated 0.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $289.83 (0.00%) than the resistance at $291.23 (0.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Encore Wire Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Encore Wire Corporation stock to perform well in the short-term.
Current score: 1.976 Buy Candidate Unchanged
Predicted Opening Price for Encore Wire Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $289.84 ( 0%) | $289.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WIRE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 289.84 | - |
| R2 | 289.84 | - |
| R1 | 289.84 | - |
| Price | 289.84 | |
| S1 | 289.84 | - |
| S2 | 289.84 | - |
| S3 | 289.84 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 291.23 | 0.480% |
| Price | 289.84 | |
| S1 | 289.83 | -0.0035% |
| S2 | 289.70 | -0.0483% |
| S3 | 289.40 | -0.152% |
WIRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2024 | Jul 05, 2024 | Jul 19, 2024 | $0.0200 | 0.0069% |
| 2 | Feb 15, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.0200 | 0.0070% |
| 3 | Nov 09, 2023 | Jan 04, 2024 | Jan 19, 2024 | $0.0200 | 0.0094% |
| 4 | Aug 08, 2023 | Oct 05, 2023 | Oct 20, 2023 | $0.0200 | 0.0118% |
| 5 | May 04, 2023 | Jul 06, 2023 | Jul 21, 2023 | $0.0200 | 0.0122% |
FAQ
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