WEST FRASER TIMBER CO LTD (WFG) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:WFG - CA9528451052 - Common Stock
We assign a technical rating of 0 out of 10 to WFG. WFG's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, WFG does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 62.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.52, a Stop Loss order could be placed below this zone.
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57.32
When analyzing the support we can see 3 important areas.
- A support zone ranging from 60.54 to 61.10. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 58.99 to 59.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 57.90 to 57.91. This zone is formed by a combination of multiple trend lines in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 62.35 to 62.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @64.44 from a trend line in the weekly time frame.
- Strong resistance @76.52 from a horizontal line in the daily time frame.
- Resistance @78.77 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for WFG is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WFG is neutral. |
| ChartMill Relative Strength | 16.44 | NEGATIVE | WFG has a low relative strength, it was outperformed by 83.56% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of WFG is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of WFG is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of WFG is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 50.21 | NEUTRAL | The RSI value for WFG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.07 | POSITIVE | The MACD value suggests WFG has a positive trend. |
| Stochastics (14,3) | 44 | NEUTRAL | The Stochastics value for WFG is a neutral value. |
| Average True Range in percent/ATR (20) | 2.43 | MEDIUM VOLATILITY | The ATR as a percentage value for WFG suggests some volalility. |
| Average Directional Index/ADX (14) | 14.06 | NEGATIVE | The low ADX value for WFG suggests a weak or negative trend. |
61.11
+0.21 (+0.34%)
WEST FRASER TIMBER CO LTD / WFG FAQ
What is the ChartMill technical rating of WEST FRASER TIMBER CO LTD (WFG) stock?
ChartMill assigns a technical rating of 0 / 10 to WFG.
What is the trend direction for WFG stock?
The current trend direction for WEST FRASER TIMBER CO LTD (WFG) is Bearish.
Can you provide the RSI signal for WEST FRASER TIMBER CO LTD?
WEST FRASER TIMBER CO LTD (WFG) has an RSI value of 50.2074. This indicates that the stock is currently neutral.
What is the short term momentum for WEST FRASER TIMBER CO LTD (WFG) stock?
The short term momentum for WEST FRASER TIMBER CO LTD (WFG) is neutral.
What are the support and resistance levels for WEST FRASER TIMBER CO LTD (WFG) stock?
WEST FRASER TIMBER CO LTD (WFG) has a support level at 59.52 and a resistance level at 62.35. Check the full technical report for our detailed analysis of WFG support and resistance levels.