West Fraser Timber CO Ltd (WFT.CA) Stock Technical Analysis
Canada - TSX:WFT -
Overall WFT gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, WFT is only an average performer.
WFT has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
62.69
We found 3 important support areas.
- A support zone ranging from 77.35 to 77.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 76.01 to 76.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @63.32 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 84.34 to 85.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for WFT.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for WFT.CA is up. |
| ChartMill Relative Strength | 70.6 | POSITIVE | WFT.CA has a high relative strength, it outperformed 70.6% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of WFT.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WFT.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WFT.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.6 | NEUTRAL | The RSI value for WFT.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.42 | POSITIVE | The MACD value suggests WFT.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 70.71 | NEUTRAL | The Stochastics value for WFT.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.74 | MEDIUM VOLATILITY | The ATR as a percentage value for WFT.CA suggests some volalility. |
TSX:WFT (1/29/2021, 10:05:04 PM)
81.94
-2.06 (-2.45%)
West Fraser Timber CO Ltd / WFT.CA FAQ
What is the technical rating for WFT stock?
ChartMill assigns a technical rating of 8 / 10 to WFT.CA.
What is the current trend direction of West Fraser Timber CO Ltd (WFT.CA) stock?
The current trend direction for West Fraser Timber CO Ltd (WFT.CA) is Bullish.
Can you provide the RSI signal for West Fraser Timber CO Ltd?
West Fraser Timber CO Ltd (WFT.CA) has an RSI value of 54.6009. This indicates that the stock is currently neutral.
What is the short term momentum for West Fraser Timber CO Ltd (WFT.CA) stock?
The short term momentum for West Fraser Timber CO Ltd (WFT.CA) is positive.
What are the support and resistance levels for West Fraser Timber CO Ltd (WFT.CA) stock?
West Fraser Timber CO Ltd (WFT.CA) has a support level at 77.43 and a resistance level at 84.34. Check the full technical report for our detailed analysis of WFT.CA support and resistance levels.