Weis Markets Inc Stock Forecast
Weis Markets Inc stock price down 1.04% on Thursday
(Updated on Apr 25, 2024)
The Weis Markets Inc stock price fell by -1.04% on the last day (Thursday, 25th Apr 2024) from $64.34 to $63.67. During the last trading day the stock fluctuated 1.62% from a day low at $63.48 to a day high of $64.51. The price has risen in 6 of the last 10 days and is up by 2.45% 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 -4 thousand shares and in total, 86 thousand shares were bought and sold for approximately $5.48 million.
The stock lies in the middle of a weak 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 4.41% during the next 3 months and, with a 90% probability hold a price between $64.75 and $70.37 at the end of this 3-month period.
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WMK Signals & Forecast
The Weis Markets Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $63.33 and $63.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 3.36%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Weis Markets Inc stock
Weis Markets Inc finds support from accumulated volume at $62.58 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 $1.03 between high and low, or 1.62%. For the last week the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: $60.41 (-5.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (WMK) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Weis Markets Inc to open at $63.89, and during the day (based on 14 day Average True Range), to move between $62.41 and $64.93, which gives a possible trading interval of +/-$1.26 (+/-1.98%) up or down from last closing price. If Weis Markets Inc takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $64.24 (0.90%) than the support at $62.58 (1.71%), 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 Weis Markets 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 Weis Markets Inc stock to perform well in the short-term.
Current score: 1.690 Buy Candidate Unchanged
Predicted Opening Price for Weis Markets Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $63.89 ( 0.340%) | $63.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.92 | 1.96 % | |
| R2 | 64.52 | 1.34 % | ||
| R1 | 64.28 | 0.96 % | ||
| Current price: | 63.67 | |||
| Support | S1 | 63.49 | -0.278 % | |
| S2 | 63.25 | -0.659 % | ||
| S3 | 62.86 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.05 | 2.17 % | |
| R2 | 64.94 | 1.99 % | ||
| R1 | 64.24 | 0.90 % | ||
| Current price | 63.67 | |||
| Support | S1 | 62.58 | -1.71% | |
| S2 | 61.41 | -3.55% | ||
| S3 | 59.41 | -6.69% |
WMK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Feb 15, 2024 | Mar 04, 2024 | $0.340 | 0.520% |
| 2 | Oct 26, 2023 | Nov 03, 2023 | Nov 20, 2023 | $0.340 | 0.558% |
| 3 | Jul 27, 2023 | Aug 04, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
| 4 | Apr 27, 2023 | May 05, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
| 5 | Feb 02, 2023 | Feb 10, 2023 | Feb 27, 2023 | $0.340 | 0.426% |
FAQ
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