World Wrestling Entertainment Inc Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
|Shorts||5.38% ( 2018-11-15 )|
World Wrestling Entertainment Inc fell by -1.98% in the last day from $75.44 to $73.95 and has now fallen 3 days in a row. The price has been going up and down for this period, and there has been a 13.28% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.64 million shares and in total 1.07 million shares bought and sold for approximately $79.46 million.
World Wrestling Entertainment Inc lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $74.73 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -27.65% during the next 3 months and, with 90% probability hold a price between $37.87 and $54.07 at the end of this period.
World Wrestling Entertainment 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 $74.59. On a fall, the stock will find some support from the long-term average at approximately $70.58. 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. 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 Thursday December 06, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
The stock holds a RSI14 at 74 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
World Wrestling Entertainment Inc finds support from accumulated volume at $73.59.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.35 between high and low, or 4.55%. For the last week, the stock has had a daily average volatility of 5.67%.
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: We hold a sell evaluation for this stock. No stop-loss set.
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World Wrestling Entertainment Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
|WWE $73.95 $-1.49(-1.98%)|
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