Stock Price Prediction

Technical Analysis: Based on the latest data, WIX is showing signs of technical weakness with RSI-14 at 45.29, indicating a neutral to slightly bearish momentum. The MACD line at -0.38 with a negative histogram (-1.63) suggests increasing downward pressure.

The stock is currently trading near its 20-day SMA of $232.42, with Fibonacci support levels at $218.90 (S1) and $215.15 (S2). The Bollinger Bands analysis shows the price is trading at 0.31 of the band width, suggesting relatively low volatility.

News Sentiment & Recent Developments:

• WIX has shown strong performance with an 87% return over the past year, driven by AI investments and enhanced user growth.
• The company recently completed a $200 million share repurchase program at an average price of $230.41 per share.
• Raymond James upgraded WIX to Strong Buy with a $300 price target in January 2025.
• However, Wells Fargo recently initiated coverage with an Underweight rating and $208 price target, citing concerns about price increase contributions to growth.

Price Prediction for Next Week: Based on technical indicators and Fibonacci levels:

• Resistance levels: $231.04 (R1), $234.79 (R2)
• Support levels: $218.90 (S1), $215.15 (S2)

Expected price range: $215-235

Trading Recommendation: SELL Rationale:

1. Weakening technical indicators (declining RSI and negative MACD)
2. Recent analyst downgrade
3. Price showing resistance at upper Fibonacci levels

Target price: $218.90 (First support level) Stop loss: $234.79 (Second resistance level)