Waters Corporation Forecast and Stock Analysis
Technical WAT stock analysis for March 15, 2019.
|Shorts||5.07% ( 2019-02-28 )|
Waters Corporation gained 1.02% in the last trading day, rising from $242.49 to $244.97 , and has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 7 of the last 10 days and is up by 0.07% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.77 million more shares were traded than the day before. In total, 1.31 million shares bought and sold for approximately $320.47 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the WAT stock was $244.97. This is 1.02% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.34% from a day low at $241.88 to a day high of $245.13.
30 day high of the WAT stock price was $246.43 and low was $231.49.
90 day high was $246.43 and low was $173.41.
52 week high for the Waters Corporation - $246.43 and low - $167.94.
Waters Corporation lies in the lower part of a wide and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $238.26 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 38.07% during the next 3 months and, with 90% probability hold a price between $328.97 and $379.70 at the end of this period.
Only positive signals in the chart today. Waters Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $240.93 and $235.99. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday March 07, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 64 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $229.51 and $229.16.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Waters Corporation finds support just below today's level at $229.51. If this is broken, then the next support from accumulated volume will be at $229.16 and $223.71.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $3.25 (1.34%) between high and low. For the last week, the stock has had a daily average volatility of 1.23%.
Since the Waters Corporation has been rising for 7 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $232.49 (-5.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Strong Buy Candidate
Waters Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.