George Weston Ltd 5.8 % Pfd shs Series 1 Stock Forecast

Red day on Monday for George Weston Ltd 5.8 % Pfd shs Series 1 stock after losing 0%
(Updated on Jun 24, 2024)

WN-PA.TO Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.32%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The George Weston Ltd 5.8 % Pfd shs Series 1 stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $22.59. On a fall, the stock will find some support from the short-term average at $22.18. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, June 19, 2024 and based on theory for this formation the price should go up by 3.27% to $22.93 within 38 trading days since signal was issued (Wednesday, August 14, 2024).

Support, Risk & Stop-loss for George Weston Ltd 5.8 % Pfd shs Series 1 stock

George Weston Ltd 5.8 % Pfd shs Series 1 finds support from accumulated volume at $22.07 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 0.517%

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

Trading Expectations (WN-PA.TO) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect George Weston Limited 5.8 % Pfd shs Series 1 to open at $22.20, and during the day (based on 14 day Average True Range), to move between $22.00 and $22.40, which gives a possible trading interval of +/-$0.197 (+/-0.89%) up or down from last closing price. If George Weston Limited 5.8 % Pfd shs Series 1 takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.30 (0.45%) than the support at $22.07 (0.59%), 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 George Weston Limited 5.8 % Pfd shs Series 1 stock A Buy?

George Weston Ltd 5.8 % Pfd shs Series 1 holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.600 Sell Candidate Unchanged

Predicted Opening Price for George Weston Limited 5.8 % Pfd shs Series 1 of Tuesday, June 25, 2024

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