George Weston Ltd 5.8 % Pfd shs Series 1 Stock Forecast
George Weston Ltd 5.8 % Pfd shs Series 1 stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The George Weston Ltd 5.8 % Pfd shs Series 1 stock price gained 1.87% on the last trading day (Friday, 28th Jun 2024), rising from $22.45 to $22.87. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.18% from a day low at $22.44 to a day high of $22.93. The price has risen in 6 of the last 10 days and is up by 1.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $195.86 thousand.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $22.97 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect George Weston Ltd 5.8 % Pfd shs Series 1 stock with a 90% probability to be traded between $21.86 and $22.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WN-PA.TO Signals & Forecast
The George Weston Ltd 5.8 % Pfd shs Series 1 stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $22.30 and $22.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 4.38%. Further rise is indicated until a new top pivot has been found. George Weston Ltd 5.8 % Pfd shs Series 1 has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 0.240% 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 $22.60 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.490 between high and low, or 2.18%. For the last week the stock has had daily average volatility of 0.97%.
Our recommended stop-loss: $21.57 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (WN-PA.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect George Weston Limited 5.8 % Pfd shs Series 1 to open at $22.75, and during the day (based on 14 day Average True Range), to move between $22.65 and $23.09, which gives a possible trading interval of +/-$0.220 (+/-0.96%) 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 1.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.90 (0.13%) than the support at $22.60 (1.18%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.341 Hold/Accumulate Upgraded
Predicted Opening Price for George Weston Limited 5.8 % Pfd shs Series 1 of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $22.75 ( 0.539%) | $22.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WN-PA.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.24 | 1.60% |
| R2 | 23.05 | 0.785% |
| R1 | 22.93 | 0.279% |
| Price | 22.87 | |
| S1 | 22.56 | -1.36% |
| S2 | 22.44 | -1.86% |
| S3 | 22.26 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.93 | 0.262% |
| R2 | 22.91 | 0.175% |
| R1 | 22.90 | 0.131% |
| Price | 22.87 | |
| S1 | 22.60 | -1.18% |
| S2 | 22.50 | -1.62% |
| S3 | 22.07 | -3.50% |
WN-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 15, 2024 | $0.363 | 1.61% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | $0.363 | 1.61% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.363 | 1.72% |
| 4 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.363 | 1.67% |
| 5 | May 30, 2023 | May 30, 2023 | Jun 15, 2023 | $0.363 | 1.60% |
FAQ
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