Watsco Inc Forecast and Stock Analysis
Technical WSO stock analysis for Wednesday June 19, 2019.
Watsco Inc fell by -0.22% in the last day ( Wednesday, 19th Jun 2019 ) from $161.48 to $161.13 and has now fallen 5 days in a row. During day the stock fluctuated 1.72% from a day low at $158.59 to a day high of $161.31. The price has fallen in 7 of the last 10 days and is down by -3.28% for this period. Volume has increased in the last day by 111 388 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 347 846 shares bought and sold for approximately $56.05 million.
- 30 day high of the WSO stock price was $169.39 and low was $154.33.
- 90 day high was $169.39 and low was $136.45.
- 52 week high for the Watsco Inc - $187.46 and low - $131.88.
Watsco Inc lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $161.03 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.31% during the next 3 months and, with 90% probability hold a price between $187.29 and $203.78 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Friday June 07, 2019, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Watsco Inc holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $163.15. On a fall, the stock will find some support from the long-term average at approximately $159.95. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 56 and the stock is currently not being overbought or oversold
Support & Resistance
Watsco Inc finds support from accumulated volume at $160.00.
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 $2.72 (1.72%) between high and low. For the last week, the stock has had a daily average volatility of 1.44%.
Our recommended stoploss: $154.49 (-4.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 8 days ago.)
1.44 %Average volatility
Very Low Low Medium High Very High
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 this stock to perform well in the short-term.
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|WSO $161.13 ($-0.35 -0.22%)|
WSO is down $0.35 today, but where's it headed in 2019?
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