Weis Markets Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Weis Markets Inc stock price after Friday trading.
(Updated on Apr 19, 2024)
The Weis Markets Inc stock price gained 2.92% on the last trading day (Friday, 19th Apr 2024), rising from $62.66 to $64.49. During the last trading day the stock fluctuated 3.43% from a day low at $62.46 to a day high of $64.60. The price has risen in 6 of the last 10 days and is up by 3.38% 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, 5 thousand more shares were traded than the day before. In total, 50 thousand shares were bought and sold for approximately $3.21 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 4.59% during the next 3 months and, with a 90% probability hold a price between $64.67 and $70.35 at the end of this 3-month period.
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WMK Signals & Forecast
Mostly positive signals in the chart today. 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 $62.49 and $63.54. 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 4.69%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Weis Markets Inc stock
Weis Markets Inc finds support from accumulated volume at $64.24 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 $2.14 between high and low, or 3.43%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: $61.59 (-4.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (WMK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Weis Markets Inc to open at $63.85, and during the day (based on 14 day Average True Range), to move between $63.27 and $65.71, which gives a possible trading interval of +/-$1.22 (+/-1.89%) up or down from last closing price. If Weis Markets Inc takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $64.24 (0.39%) than the resistance at $64.94 (0.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.107 Buy Candidate Upgraded
Predicted Opening Price for Weis Markets Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $63.85 ( 0.99%) | $64.49 |
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 | 65.99 | 2.33 % | |
| R2 | 65.17 | 1.06 % | ||
| R1 | 64.67 | 0.275 % | ||
| Current price: | 64.49 | |||
| Support | S1 | 63.03 | -2.26 % | |
| S2 | 62.53 | -3.04 % | ||
| S3 | 61.71 | -4.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.08 | 0.91 % | |
| R2 | 65.05 | 0.87 % | ||
| R1 | 64.94 | 0.698 % | ||
| Current price | 64.49 | |||
| Support | S1 | 64.24 | -0.388% | |
| S2 | 61.41 | -4.78% | ||
| S3 | 59.41 | -7.88% |
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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