Wingstop Inc. Stock Forecast
Green day on Thursday for Wingstop Inc.
(Updated on Apr 25, 2024)
The Wingstop Inc. stock price gained 1.97% on the last trading day (Thursday, 25th Apr 2024), rising from $362.74 to $369.90. During the last trading day the stock fluctuated 6.88% from a day low at $354.53 to a day high of $378.93. The price has fallen in 6 of the last 10 days but is still up by 0.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 346 thousand more shares were traded than the day before. In total, 615 thousand shares were bought and sold for approximately $227.36 million.
The stock lies in the middle of a wide and strong 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 25.63% during the next 3 months and, with a 90% probability hold a price between $443.32 and $524.49 at the end of this 3-month period.
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WING Signals & Forecast
The Wingstop 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 $359.35 and $357.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -0.232%. 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).
Support, Risk & Stop-loss for Wingstop Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $334.22 and $334.05. There is a 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, Wingstop Inc. finds support just below today's level at $334.22. If this is broken, then the next support from accumulated volume will be at $334.05 and $310.32.
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 $24.40 between high and low, or 6.88%. For the last week the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: $355.53 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)
Trading Expectations (WING) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Wingstop Inc. to open at $367.79, and during the day (based on 14 day Average True Range), to move between $355.96 and $383.84, which gives a possible trading interval of +/-$13.94 (+/-3.77%) up or down from last closing price. If Wingstop Inc. takes out the full calculated possible swing range there will be an estimated 7.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $370.41 (0.14%) than the support at $334.22 (9.65%), 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.
Earnings coming up
Wingstop Inc. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for Wingstop Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.67% in the first trading day after earnings release.
Is Wingstop Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wingstop Inc. stock to perform well in the short-term.
Current score: 4.589 Buy Candidate Unchanged
Predicted Opening Price for Wingstop Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $367.79 ( 0.571%) | $369.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WING
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 392.19 | 6.03 % | |
| R2 | 382.87 | 3.51 % | ||
| R1 | 377.11 | 1.95 % | ||
| Current price: | 369.90 | |||
| Support | S1 | 358.47 | -3.09 % | |
| S2 | 352.71 | -4.65 % | ||
| S3 | 343.39 | -7.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 370.76 | 0.232 % | |
| R2 | 370.67 | 0.208 % | ||
| R1 | 370.41 | 0.138 % | ||
| Current price | 369.90 | |||
| Support | S1 | 334.22 | -9.65% | |
| S2 | 334.05 | -9.69% | ||
| S3 | 310.32 | -16.11% |
WING Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 07, 2024 | Mar 29, 2024 | $0.220 | 0.0600% |
| 2 | Oct 31, 2023 | Nov 16, 2023 | Dec 08, 2023 | $0.220 | 0.0890% |
| 3 | Aug 01, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.220 | 0.137% |
| 4 | May 02, 2023 | May 18, 2023 | Jun 09, 2023 | $0.190 | 0.101% |
| 5 | Feb 21, 2023 | Mar 09, 2023 | Mar 31, 2023 | $0.190 | 0.103% |
FAQ
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