WPM Forecast and Technical Stock AnalysisBuy candidate since 2019-07-16 Gain 9.36%
Wheaton Precious Metals Corp (Canada) gained 2.74% in the last trading day ( Thursday, 18th Jul 2019 ), rising from $26.27 to $26.99 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During day the stock fluctuated 4.24% from a day low at $25.94 to a day high of $27.04. The price has risen in 7 of the last 10 days and is up by 12.74% over the past 2 weeks. Volume fell in the last day by -0.58 million shares, and in total, 4.72 million shares bought and sold for approximately $127.29 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.
- 30 day high of the WPM stock price was $27.04 and low was $22.94.
- 90 day high was $27.04 and low was $19.73.
- 52 week high for the Wheaton Precious Metals Corp (Canada) - $27.04 and low - $15.08.
Wheaton Precious Metals Corp (Canada) has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $26.64, a level that may pose a second chance to hit a runner. According to fan-theory $30.38 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Wheaton Precious Metals Corp (Canada) 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 $24.90 and $23.67. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday July 08, 2019, 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)
RSImin/max Values: [ 25 - 75 ]
RSI14 is 74 and the stock is currently not being overbought or oversold
* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
Support & Resistance
Wheaton Precious Metals Corp (Canada) finds support from accumulated volume at $26.27.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.10 (4.24%) between high and low. For the last week, the stock has had a daily average volatility of 3.39%.
Since the Wheaton Precious Metals Corp (Canada) has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $26.09 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 8 days ago.)
3.39 %Average volatility
Very Low Low Medium High Very High
Wheaton Precious Metals Corp (Canada) holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
|WPM $26.99 ($0.72 2.74%)|
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