Wingstop Inc. Stock Forecast
Wingstop Inc. stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The Wingstop Inc. stock price fell by -0.88% on the last day (Thursday, 18th Apr 2024) from $359.57 to $356.40. During the last trading day the stock fluctuated 2.84% from a day low at $355.62 to a day high of $365.72. The price has fallen in 6 of the last 10 days but is still up by 1.57% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -155 thousand shares and in total, 295 thousand shares were bought and sold for approximately $105.17 million.
Given the current short-term trend, the stock is expected to rise 31.30% during the next 3 months and, with a 90% probability hold a price between $467.95 and $547.90 at the end of this 3-month period.
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WING Signals & Forecast
There are few to no technical positive signals at the moment. The Wingstop Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $362.52 and $357.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -3.87%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $10.10 (2.84%) between high and low. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WING) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Wingstop Inc. to open at $359.24, and during the day (based on 14 day Average True Range), to move between $342.73 and $370.07, which gives a possible trading interval of +/-$13.67 (+/-3.84%) up or down from last closing price. If Wingstop Inc. takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $360.05 (1.02%) than the support at $334.22 (6.22%), 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 Wingstop Inc. stock A Buy?
The Wingstop Inc. stock holds several negative signals and despite the positive trend, we believe Wingstop Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.746 Sell Candidate Downgraded
Predicted Opening Price for Wingstop Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $359.24 ( 0.798%) | $356.40 |
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 | 369.35 | 3.63 % | |
| R2 | 365.49 | 2.55 % | ||
| R1 | 363.10 | 1.88 % | ||
| Current price: | 356.40 | |||
| Support | S1 | 355.39 | -0.285 % | |
| S2 | 353.00 | -0.95 % | ||
| S3 | 349.14 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 366.28 | 2.77 % | |
| R2 | 361.23 | 1.36 % | ||
| R1 | 360.05 | 1.02 % | ||
| Current price | 356.40 | |||
| Support | S1 | 334.22 | -6.22% | |
| S2 | 334.05 | -6.27% | ||
| S3 | 310.32 | -12.93% |
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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