WSFS Financial Corporation stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Nov 29, 2023)
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The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect WSFS Financial Corporation stock with a 90% probability to be traded between $34.12 and $40.47 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.
WSFS Signals & Forecast
The WSFS Financial Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $38.71. On a fall, the stock will find some support from the long-term average at approximately $37.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, November 15, 2023, and so far it has fallen -4.27%. 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 WSFS Financial Corporation stock
WSFS Financial Corporation finds support from accumulated volume at $38.18 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 $2.25 between high and low, or 6.05%. For the last week, the stock has had daily average volatility of 2.92%.
Our recommended stop-loss: $36.76 (-4.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (WSFS) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect WSFS Financial Corporation to open at $38.42, and during the day (based on 14 day Average True Range), to move between $37.28 and $39.92, which gives a possible trading interval of +/-$1.32 (+/-3.42%) up or down from last closing price. If WSFS Financial Corporation takes out the full calculated possible swing range there will be an estimated 6.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.86 (0.67%) than the support at $38.18 (1.09%), 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 WSFS Financial Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for WSFS Financial Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.198 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for WSFS Financial Corporation of Thursday, November 30, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price November 30, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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