Fri 25'th May 2018
Weis Markets Inc Stock Analysis
Technical stock analysis for Fri 25'th May 2018
Weis Markets Inc gained 1.33% in the last trading day, rising from $52.81 to $53.51 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 8 of the last 10 days and is up by 14.46% over the past 2 weeks. Volume fell in the last day by -51 521 shares, and in total, 114 431 shares bought and sold for approximately $6.12 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
|Shorts||17.58% ( 2018-04-30 )|
Weis Markets Inc lies in the upper part of a wide and strong rising trend in the short term, and this will 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 $53.62 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 39.32% during the next 3 months and, with 90% probability hold a price between $67.45 and $74.71 at the end of this period.
Only positive signals in the chart today. Weis Markets Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $52.53 and $47.04. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday May 11, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
The stock holds a RSI14 at 83 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Weis Markets Inc finds support from accumulated volume at $52.48.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.16 between high and low, or 2.21%. For the last week, the stock has had a daily average volatility of 2.10%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $51.61 (-3.56%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from pivot bottom found 10 days ago.)
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Weis Markets Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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