Weis Markets Inc Stock Forecast
Red day on Thursday for Weis Markets Inc
(Updated on Apr 18, 2024)
The Weis Markets Inc stock price fell by -0.0160% on the last day (Thursday, 18th Apr 2024) from $62.67 to $62.66. During the last trading day the stock fluctuated 1.44% from a day low at $62.40 to a day high of $63.30. The price has been going up and down for this period, and there has been a -0.06% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -63 thousand shares and in total, 44 thousand shares were bought and sold for approximately $2.79 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $61.79 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.61% during the next 3 months and, with a 90% probability hold a price between $64.64 and $70.31 at the end of this 3-month period.
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WMK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 1.72%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Weis Markets Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $63.56. On a fall, the stock will find some support from the short-term average at $62.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Weis Markets Inc stock
Weis Markets Inc finds support from accumulated volume at $62.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.90 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: $59.02 (-5.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (WMK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Weis Markets Inc to open at $62.79, and during the day (based on 14 day Average True Range), to move between $61.51 and $63.81, which gives a possible trading interval of +/-$1.15 (+/-1.83%) up or down from last closing price. If Weis Markets Inc takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.67 (0.02%) than the support at $62.15 (0.81%), 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 Weis Markets Inc stock A Buy?
Weis Markets Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.860 Hold/Accumulate Unchanged
Predicted Opening Price for Weis Markets Inc of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$62.79 ( 0.202%) | $62.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 63.69 | 1.64 % | |
R2 | 63.34 | 1.09 % | ||
R1 | 63.13 | 0.751 % | ||
Current price: | 62.66 | |||
Support | S1 | 62.44 | -0.347 % | |
S2 | 62.23 | -0.685 % | ||
S3 | 61.89 | -1.23 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 64.94 | 3.64 % | |
R2 | 64.24 | 2.52 % | ||
R1 | 62.67 | 0.0160 % | ||
Current price | 62.66 | |||
Support | S1 | 62.15 | -0.81% | |
S2 | 61.41 | -1.99% | ||
S3 | 59.41 | -5.19% |
WMK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Feb 15, 2024 | Mar 04, 2024 | $0.340 | 0.520% |
2 | Oct 26, 2023 | Nov 03, 2023 | Nov 20, 2023 | $0.340 | 0.558% |
3 | Jul 27, 2023 | Aug 04, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
4 | Apr 27, 2023 | May 05, 2023 | Aug 21, 2023 | $0.340 | 0.496% |
5 | Feb 02, 2023 | Feb 10, 2023 | Feb 27, 2023 | $0.340 | 0.426% |
FAQ
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