Worthington Industries Inc Stock Forecast
Worthington Industries Inc stock price up 0.436% on Thursday
(Updated on Mar 28, 2024)
The Worthington Industries Inc stock price gained 0.436% on the last trading day (Thursday, 28th Mar 2024), rising from $61.96 to $62.23. During the last trading day the stock fluctuated 1.73% from a day low at $61.78 to a day high of $62.85. The price has been going up and down for this period, and there has been a 1.12% gain for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 257 thousand shares were bought and sold for approximately $16.00 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $60.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.13% during the next 3 months and, with a 90% probability hold a price between $72.54 and $80.86 at the end of this 3-month period.
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WOR Signals & Forecast
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 Worthington Industries Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $63.14 and $62.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -7.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Worthington Industries Inc stock
Worthington Industries Inc finds support from accumulated volume at $61.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.07 (1.73%) between high and low. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WOR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Worthington Industries Inc to open at $62.29, and during the day (based on 14 day Average True Range), to move between $59.86 and $64.60, which gives a possible trading interval of +/-$2.37 (+/-3.80%) up or down from last closing price. If Worthington Industries Inc takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $61.88 (0.56%) than the resistance at $62.60 (0.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Worthington Industries Inc stock A Buy?
The Worthington Industries Inc stock holds several negative signals and despite the positive trend, we believe Worthington Industries Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.417 Sell Candidate Unchanged
Predicted Opening Price for Worthington Industries Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$62.29 ( 0.0911%) | $62.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WOR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.36 | 1.81 % | |
R2 | 62.95 | 1.15 % | ||
R1 | 62.70 | 0.748 % | ||
Current price: | 62.23 | |||
Support | S1 | 61.88 | -0.566 % | |
S2 | 61.63 | -0.97 % | ||
S3 | 61.22 | -1.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 66.98 | 7.63 % | |
R2 | 63.40 | 1.88 % | ||
R1 | 62.60 | 0.595 % | ||
Current price | 62.23 | |||
Support | S1 | 61.88 | -0.562% | |
S2 | 59.43 | -4.50% | ||
S3 | 53.91 | -13.37% |
WOR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 20, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.160 | 0.257% |
2 | Mar 14, 2024 | Mar 14, 2024 | Mar 14, 2024 | $0 | 0% |
3 | Sep 27, 2023 | Nov 14, 2023 | Dec 15, 2023 | $0.320 | 0.558% |
4 | Jun 28, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.320 | 0.84% |
5 | Mar 22, 2023 | Jun 14, 2023 | Sep 29, 2023 | $0.310 | 0.81% |
FAQ
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