Westport Fuel Systems Inc. Stock Forecast
Red day on Tuesday for Westport Fuel Systems Inc. stock after losing 2.31%
(Updated on Apr 30, 2024)
The Westport Fuel Systems Inc. stock price fell by -2.31% on the last day (Tuesday, 30th Apr 2024) from $7.79 to $7.61. During the last trading day the stock fluctuated 4.00% from a day low at $7.50 to a day high of $7.80. The price has been going up and down for this period, and there has been a -4.28% loss 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 -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately $27.03 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.53 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 2.05% during the next 3 months and, with a 90% probability hold a price between $7.68 and $9.92 at the end of this 3-month period.
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WPRT.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Westport Fuel Systems 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 $7.78 and $8.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -21.06%. 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. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, March 11, 2024 and based on theory for this formation the price should fall by -0.220% to $7.59 within 9 trading days since signal was issued (Wednesday, May 01, 2024).
Support, Risk & Stop-loss for Westport Fuel Systems Inc. stock
Westport Fuel Systems Inc. finds support from accumulated volume at $7.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.300 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WPRT.TO) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Westport Fuel Systems Inc. to open at $7.64, and during the day (based on 14 day Average True Range), to move between $7.30 and $7.92, which gives a possible trading interval of +/-$0.314 (+/-4.12%) up or down from last closing price. If Westport Fuel Systems Inc. takes out the full calculated possible swing range there will be an estimated 8.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.49 (1.58%) than the resistance at $8.97 (17.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Westport Fuel Systems Inc. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.760. We will update the financials statements for Westport Fuel Systems Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.67% in the first trading day after earnings release.
Is Westport Fuel Systems Inc. stock A Buy?
The Westport Fuel Systems Inc. stock holds several negative signals and despite the positive trend, we believe Westport Fuel Systems Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.329 Sell Candidate Unchanged
Predicted Opening Price for Westport Fuel Systems Inc. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $7.64 ( 0.350%) | $7.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WPRT.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.94 | 4.29 % | |
| R2 | 7.82 | 2.79 % | ||
| R1 | 7.75 | 1.86 % | ||
| Current price: | 7.61 | |||
| Support | S1 | 7.52 | -1.16 % | |
| S2 | 7.45 | -2.09 % | ||
| S3 | 7.34 | -3.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.27 | 21.81 % | |
| R2 | 8.98 | 18.00 % | ||
| R1 | 8.97 | 17.87 % | ||
| Current price | 7.61 | |||
| Support | S1 | 7.49 | -1.58% | |
| S2 | 7.41 | -2.63% | ||
| S3 | 0 | . |
FAQ
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