Wolfspeed, Inc. Stock Forecast
Wolfspeed, Inc. stock price up more than 5.72% on Tuesday
(Updated on Jul 02, 2024)
The Wolfspeed, Inc. stock price gained 5.72% on the last trading day (Tuesday, 2nd Jul 2024), rising from $22.54 to $23.83. During the last trading day the stock fluctuated 5.76% from a day low at $22.93 to a day high of $24.25. The price has fallen in 7 of the last 10 days and is down by -12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $83.91 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.85% during the next 3 months and, with a 90% probability hold a price between $20.88 and $28.44 at the end of this 3-month period.
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WOLF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 7.93%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wolfspeed, Inc. 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 $25.79. On a fall, the stock will find some support from the short-term average at $22.91. 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).
Support, Risk & Stop-loss for Wolfspeed, Inc. stock
Wolfspeed, Inc. finds support from accumulated volume at $23.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.32 between high and low, or 5.76%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WOLF) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Wolfspeed, Inc. to open at $23.67, and during the day (based on 14 day Average True Range), to move between $22.39 and $25.27, which gives a possible trading interval of +/-$1.44 (+/-6.06%) up or down from last closing price. If Wolfspeed, Inc. takes out the full calculated possible swing range there will be an estimated 12.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.76 (0.29%) than the resistance at $23.94 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wolfspeed, Inc. stock A Buy?
Wolfspeed, Inc. 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: -1.700 Sell Candidate Unchanged
Predicted Opening Price for Wolfspeed, Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$23.67 ( 0.671%) | $23.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WOLF
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 24.99 | 4.87% |
R2 | 24.49 | 2.75% |
R1 | 24.17 | 1.44% |
Price | 23.83 | |
S1 | 23.17 | -2.79% |
S2 | 22.85 | -4.09% |
S3 | 22.35 | -6.21% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 26.25 | 10.16% |
R2 | 25.33 | 6.29% |
R1 | 23.94 | 0.462% |
Price | 23.83 | |
S1 | 23.76 | -0.294% |
S2 | 23.56 | -1.13% |
S3 | 22.57 | -5.29% |
WOLF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 24, 2021 | Sep 24, 2021 | Sep 24, 2021 | $0.0020 | 0.0024% |
FAQ
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