By Mill Chart
Last update: Aug 25, 2023
WARNER MUSIC GROUP CORP-CL A (NASDAQ:WMG) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NASDAQ:WMG.
At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.
Taking everything into account, WMG scores 7 out of 10 in our technical rating. In the last year, WMG was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Check the latest full technical report of WMG for a complete technical analysis.
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:WMG scores a 9 out of 10:
Besides having an excellent technical rating, WMG also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 32.83. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.48, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.
Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.
More breakout setups can be found in our Breakout screener.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
WARNER MUSIC GROUP CORP-CL A
NASDAQ:WMG (11/24/2023, 7:11:27 PM)After market: 33.32 0 (0%)
WMG earnings call for the period ending September 30, 2023.
Financial Highlights Eclipsed $6 billion of total revenue for the first time in WMG’s historyAcceleration in Q4 Streaming Growth Driven by Release Slate...
Warner Music exceeds expectations in Q4 with higher-than-expected earnings per share and revenue growth, but experiences a decrease in shares.
Investment firm Wells Fargo started coverage on Warner Music Group (WMG) and Universal Music Group (UMGNF) on Wednesday. Read for more.
These investments seem pretty vulnerable right now.
Warner Music (WMG) declares $0.17/share quarterly dividend, in line with previous. Forward yield 2.09% Payable Dec. 1; for shareholders of record Nov. 21; ex-di
NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared...
NEW YORK, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Warner Music Group Corp. will release its financial results on Thursday, November 16, 2023, for the fourth...