Wells Fargo Advantage Utilities & High Stock Forecast
Wells Fargo Advantage Utilities & High stock downgraded to Hold/Accumulate
(Updated on Apr 25, 2024)
The Wells Fargo Advantage Utilities & High stock price gained 0.434% on the last trading day (Thursday, 25th Apr 2024), rising from $9.22 to $9.26. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.31% from a day low at $9.15 to a day high of $9.27. The price has risen in 6 of the last 10 days and is up by 1.76% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 37 thousand shares were bought and sold for approximately $343.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak 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 3.61% during the next 3 months and, with a 90% probability hold a price between $9.17 and $9.89 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ERH Signals & Forecast
The Wells Fargo Advantage Utilities & High stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.08 and $9.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.11%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Wells Fargo Advantage Utilities & High stock
Wells Fargo Advantage Utilities & High finds support from accumulated volume at $9.00 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 controlled movements and therefore the general risk is considered 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 $0.120 between high and low, or 1.31%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $8.88 (-4.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (ERH) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Wells Fargo Advantage Utilities & High to open at $9.23, and during the day (based on 14 day Average True Range), to move between $9.13 and $9.39, which gives a possible trading interval of +/-$0.132 (+/-1.42%) up or down from last closing price. If Wells Fargo Advantage Utilities & High takes out the full calculated possible swing range there will be an estimated 2.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.32 (0.65%) than the support at $9.00 (2.81%), 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 Wells Fargo Advantage Utilities & High stock A Buy?
Wells Fargo Advantage Utilities & High holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.050 Hold/Accumulate Downgraded
Predicted Opening Price for Wells Fargo Advantage Utilities & High of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $9.23 ( 0.360%) | $9.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.35 | 0.94 % | |
| R2 | 9.30 | 0.441 % | ||
| R1 | 9.27 | 0.135 % | ||
| Current price: | 9.26 | |||
| Support | S1 | 9.18 | -0.86 % | |
| S2 | 9.15 | -1.16 % | ||
| S3 | 9.11 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.44 | 1.94 % | |
| R2 | 9.37 | 1.19 % | ||
| R1 | 9.32 | 0.647 % | ||
| Current price | 9.26 | |||
| Support | S1 | 9.00 | -2.81% | |
| S2 | 8.88 | -4.10% | ||
| S3 | 8.83 | -4.64% |
ERH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 11, 2024 | Apr 11, 2024 | May 01, 2024 | $0.0628 | 0.678% |
| 2 | Feb 22, 2024 | Mar 11, 2024 | Apr 01, 2024 | $0.0635 | 0.674% |
| 3 | Jan 26, 2024 | Feb 12, 2024 | Mar 01, 2024 | $0.0643 | 0.713% |
| 4 | Dec 29, 2023 | Jan 12, 2024 | Feb 01, 2024 | $0.0651 | 0.717% |
| 5 | Nov 15, 2023 | Dec 11, 2023 | Jan 02, 2024 | $0.0658 | 0.710% |
FAQ
Click here for our free guide on how to buy Wells Fargo Advantage Utilities & High Stock.
