Westport Innovations 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
Green day on Friday for Westport Innovations Inc stock after gaining 0.797%
(Updated on Apr 26, 2024)
The Westport Innovations Inc stock price gained 0.797% on the last trading day (Friday, 26th Apr 2024), rising from $5.65 to $5.69. During the last trading day the stock fluctuated 3.07% from a day low at $5.53 to a day high of $5.70. The price has risen in 6 of the last 10 days but is still down by -2.9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 44 thousand shares were bought and sold for approximately $248.63 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.57 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Westport Innovations Inc stock with a 90% probability to be traded between $5.58 and $7.26 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WPRT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.25%. Further rise is indicated until a new top pivot has been found. Westport Innovations Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Westport Innovations 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 $5.72 and $6.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Westport Innovations Inc stock
Westport Innovations Inc finds support from accumulated volume at $5.68 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.170 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WPRT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Westport Innovations Inc to open at $5.64, and during the day (based on 14 day Average True Range), to move between $5.44 and $5.94, which gives a possible trading interval of +/-$0.253 (+/-4.45%) up or down from last closing price. If Westport Innovations Inc takes out the full calculated possible swing range there will be an estimated 8.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.70 (0.18%) than the support at $5.68 (0.18%), 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 Westport Innovations Inc stock A Buy?
Westport Innovations Inc holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.276 Sell Candidate Unchanged
Predicted Opening Price for Westport Innovations Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $5.64 ( 0.88%) | $5.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WPRT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.81 | 2.10 % | |
| R2 | 5.74 | 0.96 % | ||
| R1 | 5.70 | 0.258 % | ||
| Current price: | 5.69 | |||
| Support | S1 | 5.58 | -2.02 % | |
| S2 | 5.54 | -2.72 % | ||
| S3 | 5.47 | -3.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.82 | 19.86 % | |
| R2 | 6.65 | 16.87 % | ||
| R1 | 5.70 | 0.176 % | ||
| Current price | 5.69 | |||
| Support | S1 | 5.68 | -0.176% | |
| S2 | 5.62 | -1.23% | ||
| S3 | 5.57 | -2.11% |
FAQ
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