Wix.com Ltd. Stock Forecast
Green day on Tuesday for Wix.com Ltd. stock after gaining 0.261%
(Updated on Jul 02, 2024)
The Wix.com Ltd. stock price gained 0.261% on the last trading day (Tuesday, 2nd Jul 2024), rising from $157.32 to $157.73. During the last trading day the stock fluctuated 1.73% from a day low at $155.55 to a day high of $158.24. The price has fallen in 6 of the last 10 days and is down by -2.23% for this period. Volume fell on the last day by -80 thousand shares and in total, 346 thousand shares were bought and sold for approximately $54.63 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 lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $151.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.31% during the next 3 months and, with a 90% probability hold a price between $207.94 and $261.14 at the end of this 3-month period.
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WIX Signals & Forecast
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 Wix.com 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 $157.98 and $159.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -10.39%. 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).
Support, Risk & Stop-loss for Wix.com Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $135.68 and $133.59. 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, Wix.com Ltd. finds support just below today's level at $135.68. If this is broken, then the next support from accumulated volume will be at $133.59 and $127.01.
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 $2.69 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 2.01%.
Wix.com Ltd. is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WIX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Wix.com Ltd. to open at $157.17, and during the day (based on 14 day Average True Range), to move between $153.43 and $162.03, which gives a possible trading interval of +/-$4.30 (+/-2.73%) up or down from last closing price. If Wix.com Ltd. takes out the full calculated possible swing range there will be an estimated 5.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $167.19 (6.00%) than the support at $135.68 (13.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Wix.com Ltd. stock A Buy?
The Wix.com Ltd. stock holds several negative signals and despite the positive trend, we believe Wix.com Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.113 Sell Candidate Unchanged
Predicted Opening Price for Wix.com Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $157.17 ( 0.353%) | $157.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WIX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 159.86 | 1.35% |
| R2 | 158.84 | 0.701% |
| R1 | 158.20 | 0.299% |
| Price | 157.73 | |
| S1 | 156.15 | -1.00% |
| S2 | 155.51 | -1.41% |
| S3 | 154.48 | -2.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 173.00 | 9.68% |
| R2 | 168.02 | 6.52% |
| R1 | 167.19 | 6.00% |
| Price | 157.73 | |
| S1 | 135.68 | -13.98% |
| S2 | 133.59 | -15.30% |
| S3 | 127.01 | -19.48% |
FAQ
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