Wolfspeed, Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Wolfspeed, Inc. stock upgraded to Hold/Accumulate.
(Updated on May 06, 2024)
The Wolfspeed, Inc. stock price gained 2.41% on the last trading day (Monday, 6th May 2024), rising from $25.33 to $25.94. During the last trading day the stock fluctuated 4.37% from a day low at $25.18 to a day high of $26.28. The price has risen in 6 of the last 10 days and is up by 8.35% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately $95.62 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 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 -6.86% during the next 3 months and, with a 90% probability hold a price between $20.30 and $27.03 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 Thursday, May 02, 2024, and so far it has risen 10.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wolfspeed, Inc. 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 $26.01 and $26.29. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Wolfspeed, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $23.94 and $23.56. 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, Wolfspeed, Inc. finds support just below today's level at $23.94. If this is broken, then the next support from accumulated volume will be at $23.56 and $22.57.
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 $1.10 between high and low, or 4.37%. For the last week, the stock has had daily average volatility of 7.68%.
Our recommended stop-loss: $25.04 (-3.48%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (WOLF) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Wolfspeed, Inc. to open at $25.80, and during the day (based on 14 day Average True Range), to move between $24.01 and $27.87, which gives a possible trading interval of +/-$1.93 (+/-7.46%) up or down from last closing price. If Wolfspeed, Inc. takes out the full calculated possible swing range there will be an estimated 14.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $26.25 (1.20%) than the support at $23.94 (7.71%), 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 Wolfspeed, Inc. stock A Buy?
Wolfspeed, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.904 Hold/Accumulate Upgraded
Predicted Opening Price for Wolfspeed, Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $25.80 ( 0.540%) | $25.94 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 26.90 | 3.70 % | |
| R2 | 26.48 | 2.08 % | ||
| R1 | 26.22 | 1.08 % | ||
| Current price: | 25.94 | |||
| Support | S1 | 25.38 | -2.16 % | |
| S2 | 25.12 | -3.16 % | ||
| S3 | 24.70 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.43 | 9.60 % | |
| R2 | 27.98 | 7.86 % | ||
| R1 | 26.25 | 1.20 % | ||
| Current price | 25.94 | |||
| Support | S1 | 23.94 | -7.71% | |
| S2 | 23.56 | -9.18% | ||
| S3 | 22.57 | -12.99% |
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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