Whiting Petroleum Corporation Stock Forecast
Whiting Petroleum Corporation stock price ended at $36.97 on Friday, after gaining 0.380%.
(Updated on May 17, 2024)
The Whiting Petroleum Corporation stock price gained 0.380% on the last trading day (Friday, 17th May 2024), rising from $36.83 to $36.97. During the last trading day the stock fluctuated 3.87% from a day low at $36.97 to a day high of $38.40. The price has risen in 6 of the last 10 days and is up by 0.52% over the past 2 weeks. Volume fell on the last day by -794 shares and in total, 2 thousand shares were bought and sold for approximately $57.90 thousand. 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.
Given the current short-term trend, the stock is expected to rise 45.33% during the next 3 months and, with a 90% probability hold a price between $53.73 and $69.20 at the end of this 3-month period.
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WLLAW Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Whiting Petroleum Corporation 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 $37.49 and $38.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -10.16%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Whiting Petroleum Corporation stock
Whiting Petroleum Corporation finds support from accumulated volume at $35.74 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.43 between high and low, or 3.87%. For the last week the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WLLAW) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Whiting Petroleum Corporation to open at $37.45, and during the day (based on 14 day Average True Range), to move between $35.73 and $38.21, which gives a possible trading interval of +/-$1.24 (+/-3.35%) up or down from last closing price. If Whiting Petroleum Corporation takes out the full calculated possible swing range there will be an estimated 6.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $37.00 (0.08%) than the support at $35.74 (3.33%), 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 Whiting Petroleum Corporation stock A Buy?
The Whiting Petroleum Corporation stock holds several negative signals and despite the positive trend, we believe Whiting Petroleum Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.875 Sell Candidate Unchanged
Predicted Opening Price for Whiting Petroleum Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $37.45 ( 1.29%) | $36.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WLLAW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.88 | 5.16 % | |
| R2 | 38.33 | 3.68 % | ||
| R1 | 37.99 | 2.77 % | ||
| Current price: | 36.97 | |||
| Support | S1 | 36.90 | -0.188 % | |
| S2 | 36.56 | -1.10 % | ||
| S3 | 36.02 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.15 | 11.31 % | |
| R2 | 37.90 | 2.52 % | ||
| R1 | 37.00 | 0.0811 % | ||
| Current price | 36.97 | |||
| Support | S1 | 35.74 | -3.33% | |
| S2 | 35.50 | -3.98% | ||
| S3 | 29.66 | -19.77% |
FAQ
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