Winpak Ltd. Stock Forecast
Winpak Ltd. stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
The Winpak Ltd. stock price fell by -0.90% on the last day (Tuesday, 2nd Jul 2024) from $44.65 to $44.25. During the last trading day the stock fluctuated 2.92% from a day low at $43.56 to a day high of $44.83. The price has been going up and down for this period, and there has been a 0.16% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 thousand shares and in total, 21 thousand shares were bought and sold for approximately $938.68 thousand.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.58% during the next 3 months and, with a 90% probability hold a price between $47.92 and $51.68 at the end of this 3-month period.
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WPK.TO Signals & Forecast
There are mixed signals in the stock today. The Winpak Ltd. 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 $44.32. On a fall, the stock will find some support from the short-term average at $43.95. 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. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -2.77%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Winpak Ltd. stock
Winpak Ltd. finds support from accumulated volume at $43.62 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 $1.27 between high and low, or 2.92%. For the last week the stock has had daily average volatility of 2.33%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WPK.TO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Winpak Ltd. to open at $44.21, and during the day (based on 14 day Average True Range), to move between $43.35 and $45.15, which gives a possible trading interval of +/-$0.90 (+/-2.04%) up or down from last closing price. If Winpak Ltd. takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $44.52 (0.61%) than the support at $43.62 (1.42%), 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 Winpak Ltd. stock A Buy?
Winpak Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.135 Sell Candidate Downgraded
Predicted Opening Price for Winpak Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $44.21 ( 0.0829%) | $44.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WPK.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.48 | 2.79% |
| R2 | 45.00 | 1.69% |
| R1 | 44.70 | 1.01% |
| Price | 44.25 | |
| S1 | 43.73 | -1.18% |
| S2 | 43.43 | -1.86% |
| S3 | 42.94 | -2.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.39 | 2.58% |
| R2 | 44.68 | 0.97% |
| R1 | 44.52 | 0.610% |
| Price | 44.25 | |
| S1 | 43.62 | -1.42% |
| S2 | 39.86 | -9.92% |
| S3 | 39.43 | -10.89% |
WPK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2024 | Jul 03, 2024 | Jul 12, 2024 | $0.0300 | 0.0678% |
| 2 | Feb 28, 2024 | Apr 01, 2024 | Apr 12, 2024 | $0.0300 | 0.0753% |
| 3 | Jan 02, 2024 | Jan 02, 2024 | Jan 12, 2024 | $0.0300 | 0.0691% |
| 4 | Sep 20, 2023 | Sep 29, 2023 | Oct 12, 2023 | $0.0300 | 0.0766% |
| 5 | Sep 20, 2023 | Sep 28, 2023 | Oct 12, 2023 | $0.0300 | 0.0766% |
FAQ
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