Westfield Financial Inc Forecast and Stock Analysis
Technical WNEB stock analysis for February 21, 2019.
Westfield Financial Inc gained 0.10% in the last trading day, rising from $9.97 to $9.98 The price has risen in 5 of the last 10 days and is up by 2.36% over the past 2 weeks. Volume fell in the last day by -22 783 shares, and in total, 10 598 shares bought and sold for approximately $105 768.00. 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.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the WNEB stock was $9.98. This is 0.1% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 0.40% from a day low at $9.98 to a day high of $10.02.
30 day high of the WNEB stock price was $10.18 and low was $8.50.
90 day high was $10.52 and low was $8.50.
52 week high for the Westfield Financial Inc - $11.25 and low - $8.50.
Westfield Financial Inc is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $10.09 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Westfield Financial Inc with 90% probability to be traded between $8.58 and $9.94 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Westfield Financial 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 $9.94 and $9.48. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday February 19, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
The stock holds a RSI14 at 77 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
Westfield Financial Inc finds support from accumulated volume at $9.93.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.04 between high and low, or 0.40%. For the last week the stock has had a daily average volatility of 1.64%.
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: $9.59 (-3.89%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
Very Low Low Medium High Very High
Westfield Financial Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.