WEC Energy Group 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
WEC Energy Group Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The WEC Energy Group Inc stock price gained 0.82% on the last trading day (Wednesday, 24th Apr 2024), rising from $81.96 to $82.63. During the last trading day the stock fluctuated 2.50% from a day low at $80.85 to a day high of $82.87. The price has been going up and down for this period, and there has been a 3.65% gain for the last 2 weeks. Volume fell on the last day by -399 thousand shares and in total, 2 million shares were bought and sold for approximately $126.11 million. 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 upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $83.34 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.08% during the next 3 months and, with a 90% probability hold a price between $80.44 and $85.91 at the end of this 3-month period.
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WEC Signals & Forecast
The WEC Energy Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $80.86 and $80.75. 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 6.21%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for WEC Energy Group Inc stock
WEC Energy Group Inc finds support from accumulated volume at $81.78 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.02 between high and low, or 2.50%. For the last week the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: $79.64 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (WEC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect WEC Energy Group Inc to open at $82.12, and during the day (based on 14 day Average True Range), to move between $81.14 and $84.12, which gives a possible trading interval of +/-$1.49 (+/-1.80%) up or down from last closing price. If WEC Energy Group Inc takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $81.78, some $0.85 (1.03%) from the current price of $82.63, our system finds the risk reward attractive.
Earnings coming up
WEC Energy Group Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.81. We will update the financials statements for WEC Energy Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.74% in the first trading day after earnings release.
Is WEC Energy Group Inc stock A Buy?
WEC Energy Group Inc 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.557 Hold/Accumulate Upgraded
Predicted Opening Price for WEC Energy Group Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $82.12 ( 0.621%) | $82.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 84.14 | 1.82 % | |
| R2 | 83.37 | 0.89 % | ||
| R1 | 82.89 | 0.313 % | ||
| Current price: | 82.63 | |||
| Support | S1 | 81.35 | -1.56 % | |
| S2 | 80.87 | -2.13 % | ||
| S3 | 80.10 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 82.63 | |||
| Support | S1 | 81.78 | -1.03% | |
| S2 | 80.76 | -2.26% | ||
| S3 | 79.72 | -3.52% |
WEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 13, 2024 | Jun 01, 2024 | $0.84 | 1.01% |
| 2 | Feb 13, 2024 | Feb 13, 2024 | Mar 01, 2024 | $0.84 | 1.07% |
| 3 | Oct 19, 2023 | Nov 13, 2023 | Dec 01, 2023 | $0.780 | 0.92% |
| 4 | Jul 20, 2023 | Aug 11, 2023 | Sep 01, 2023 | $0.780 | 0.94% |
| 5 | Apr 20, 2023 | May 11, 2023 | Jun 01, 2023 | $0.780 | 0.90% |
FAQ
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