Williams-Sonoma Inc Stock Forecast
Stronger technical forecast for Williams-Sonoma Inc stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Williams-Sonoma Inc stock price gained 0.95% on the last trading day (Tuesday, 2nd Jul 2024), rising from $276.89 to $279.53. During the last trading day the stock fluctuated 3.35% from a day low at $271.65 to a day high of $280.75. The price has fallen in 6 of the last 10 days and is down by -8.39% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 992 thousand shares were bought and sold for approximately $277.24 million.
The stock is at the lower part of a 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 $276.93 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Williams-Sonoma Inc stock with a 90% probability to be traded between $279.02 and $324.23 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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WSM Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, July 01, 2024, and so far it has risen 0.95%. Further rise is indicated until a new top pivot has been found. 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. The Williams-Sonoma 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 $289.26 and $298.92. 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).
A sell signal from a double top formation was found on Thursday, June 13, 2024 and based on theory for this formation the price should fall by -0.250% to $278.84 within 20 trading days since signal was issued (Monday, July 15, 2024).
Support, Risk & Stop-loss for Williams-Sonoma Inc stock
Williams-Sonoma Inc finds support from accumulated volume at $279.20 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 $9.10 between high and low, or 3.35%. For the last week, the stock has had daily average volatility of 3.93%.
Our recommended stop-loss: $262.74 (-6.01%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (WSM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Williams-Sonoma Inc to open at $277.31, and during the day (based on 14 day Average True Range), to move between $266.88 and $292.18, which gives a possible trading interval of +/-$12.65 (+/-4.53%) up or down from last closing price. If Williams-Sonoma Inc takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $279.20 (0.12%) than the resistance at $279.93 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Williams-Sonoma Inc stock A Buy?
Williams-Sonoma Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.883 Hold/Accumulate Upgraded
Predicted Opening Price for Williams-Sonoma Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $277.31 ( 0.794%) | $279.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WSM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 286.41 | 2.46% |
| R2 | 282.93 | 1.22% |
| R1 | 280.79 | 0.449% |
| Price | 279.53 | |
| S1 | 273.83 | -2.04% |
| S2 | 271.69 | -2.81% |
| S3 | 268.21 | -4.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 294.47 | 5.34% |
| R2 | 293.22 | 4.90% |
| R1 | 279.93 | 0.143% |
| Price | 279.53 | |
| S1 | 279.20 | -0.118% |
| S2 | 276.89 | -0.94% |
| S3 | 0 | - |
WSM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Sep 23, 2024 | $0.570 | 0.204% |
| 2 | Mar 13, 2024 | Apr 18, 2024 | May 24, 2024 | $1.13 | 0.393% |
| 3 | Dec 14, 2023 | Jan 18, 2024 | Feb 23, 2024 | $0.90 | 0.397% |
| 4 | Sep 14, 2023 | Oct 19, 2023 | Nov 24, 2023 | $0.90 | 0.490% |
| 5 | Jun 15, 2023 | Jul 20, 2023 | Aug 25, 2023 | $0.90 | 0.641% |
FAQ
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