Watsco Inc Stock Forecast
Strong day for Watsco Inc stock price on Wednesday rising 6.54% to $440.60
(Updated on Apr 24, 2024)
The Watsco Inc stock price gained 6.54% on the last trading day (Wednesday, 24th Apr 2024), rising from $413.57 to $440.60. It has now gained 3 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. During the last trading day the stock fluctuated 6.98% from a day low at $421.83 to a day high of $451.29. The price has been going up and down for this period, and there has been a 4.08% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 304 thousand more shares were traded than the day before. In total, 769 thousand shares were bought and sold for approximately $338.99 million.
The stock lies in the middle of a wide and strong 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 10.03% during the next 3 months and, with a 90% probability hold a price between $438.91 and $497.92 at the end of this 3-month period.
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WSO Signals & Forecast
The Watsco 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 $410.98 and $418.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 11.00%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, September 15, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, September 15, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Watsco Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $404.20 and $394.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Watsco Inc finds support just below today's level at $404.20. If this is broken, then the next support from accumulated volume will be at $394.90 and $384.17.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $29.46 between high and low, or 6.98%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: $423.33 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (WSO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Watsco Inc to open at $437.91, and during the day (based on 14 day Average True Range), to move between $428.65 and $452.55, which gives a possible trading interval of +/-$11.95 (+/-2.71%) up or down from last closing price. If Watsco Inc takes out the full calculated possible swing range there will be an estimated 5.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $444.14 (0.80%) than the support at $404.20 (8.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Watsco 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 Watsco 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: 4.270 Buy Candidate Upgraded
Predicted Opening Price for Watsco Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$437.91 ( 0.611%) | $440.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WSO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 467.37 | 6.08 % | |
R2 | 456.11 | 3.52 % | ||
R1 | 449.16 | 1.94 % | ||
Current price: | 440.60 | |||
Support | S1 | 426.65 | -3.17 % | |
S2 | 419.70 | -4.74 % | ||
S3 | 408.45 | -7.30 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 444.57 | 0.90 % | ||
R1 | 444.14 | 0.80 % | ||
Current price | 440.60 | |||
Support | S1 | 404.20 | -8.26% | |
S2 | 394.90 | -10.37% | ||
S3 | 384.17 | -12.81% |
WSO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $2.70 | 0.613% |
2 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $2.45 | 0.627% |
3 | Oct 02, 2023 | Oct 16, 2023 | Oct 31, 2023 | $2.45 | 0.702% |
4 | Jul 03, 2023 | Jul 14, 2023 | Jul 31, 2023 | $2.45 | 0.648% |
5 | Apr 03, 2023 | Apr 14, 2023 | Apr 28, 2023 | $2.45 | 0.707% |
FAQ
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