WES Price Prediction Next Week
Analysis and Insights
To predict the stock price of Western Midstream Partners (WES) for the next trading week, we analyze both technical indicators and recent news sentiment.
Technical Analysis:
- RSI (14): 42.54, indicating a neutral position but leaning towards bearish momentum.
- MACD: -0.55, showing a bearish trend.
- Fibonacci Levels: Resistance at $40.77 and $41.63, with support at $37.99 and $35.74.
- SMA (20): $40.13, with the stock currently below this level, indicating bearish momentum.
News Sentiment:
- Analyst Ratings: Morgan Stanley maintains a Sell rating with a $43 target, while the average consensus is Hold with a $40.67 target.
- Company News: WES announced a 4% increase in base distribution but reported higher CapEx and neutral free cash flow.
Conclusion:
Based on technical indicators and news sentiment, WES is expected to trade between $38 and $40 next week. Resistance at $40.77 is likely to cap upside.
Recommendation: Sell at $40.77 with a target of $37.99. Stop-loss at $41.63.
WES Similar Chart Price Prediction
The price of WES is predicted to go up 16.52%, based on the high correlation periods with SA. The similarity of these two price pattern on the periods is 93.56%.
WES
SA
Up: 16.52%Similarity: 93.56%
WES Revenue Forecast
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WES Analyst's Forecast
Elvira Scotto
RBC Capital
Hold
2024-10-16
Price Target
$38 → $41
Upside
+4.18%
RBC Capital analyst Elvira Scotto raised the firm's price target on Western Midstream to $41 from $38 but keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for U.S. Midstream names. The firm is updating its models to reflect shifts in commodity prices, hurricane impact, and dry gas production weakness, adding that it expects most companies to maintain 2024 outlooks, the analyst tells investors in a research note. For the company, RBC notes that while the growth in the Permian, Powder River and Uinta are positive for the stock, near-term cost and recovery concerns as well as the potential for another offering of its units by Occidental Petroleum (OXY) likely cap the upside for a while.
