WEX Inc Stock Forecast
Is WEX Inc stock still a buy after falling -7.84% on Thursday?
(Updated on Apr 25, 2024)
The WEX Inc stock price fell by -7.84% on the last day (Thursday, 25th Apr 2024) from $233.31 to $215.03. During the last trading day the stock fluctuated 4.55% from a day low at $212.00 to a day high of $221.64. The price has been going up and down for this period, and there has been a -10.44% loss for the last 2 weeks. Volume has increased on the last day by 478 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 757 thousand shares were bought and sold for approximately $162.78 million.
Given the current short-term trend, the stock is expected to rise 15.20% during the next 3 months and, with a 90% probability hold a price between $247.71 and $288.87 at the end of this 3-month period.
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WEX Signals & Forecast
There are few to no technical positive signals at the moment. The WEX 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 $229.04 and $234.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.23%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for WEX Inc stock
WEX Inc finds support from accumulated volume at $207.03 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 $9.64 between high and low, or 4.55%. For the last week the stock has had daily average volatility of 2.34%.
WEX Inc is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WEX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect WEX Inc to open at $216.22, and during the day (based on 14 day Average True Range), to move between $209.37 and $220.69, which gives a possible trading interval of +/-$5.66 (+/-2.63%) up or down from last closing price. If WEX Inc takes out the full calculated possible swing range there will be an estimated 5.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $207.03 (3.72%) than the resistance at $223.94 (4.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
WEX Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.47. We will update the financials statements for WEX Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.98% in the first trading day after earnings release.
Is WEX Inc stock A Buy?
The WEX Inc stock holds several negative signals and despite the positive trend, we believe WEX Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.350 Sell Candidate Unchanged
Predicted Opening Price for WEX Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $216.22 ( 0.555%) | $215.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 225.86 | 5.04 % | |
| R2 | 222.18 | 3.33 % | ||
| R1 | 219.91 | 2.27 % | ||
| Current price: | 215.03 | |||
| Support | S1 | 212.54 | -1.16 % | |
| S2 | 210.27 | -2.22 % | ||
| S3 | 206.58 | -3.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 225.65 | 4.94 % | |
| R2 | 224.14 | 4.24 % | ||
| R1 | 223.94 | 4.14 % | ||
| Current price | 215.03 | |||
| Support | S1 | 207.03 | -3.72% | |
| S2 | 199.47 | -7.24% | ||
| S3 | 198.79 | -7.55% |
FAQ
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