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WEC Energy Group, Inc. (WEC)

WEC Energy stock forecast: buy or sell

Close on Oct 23rd, 2020
$102.16 +0.35%
3 months performance
Published: October 23rd, 2020 - 5.51pm EDT

WEC Energy stock outlook

  • Counting today, it's been 4 consecutive sessions in red for WEC Energy. Price closed today at $102.16 after barely moving a 0.35%.
  • On Tuesday broke out above its latest top at $100.43
  • The stock is configuring an uptrend pattern since last March, when it bottomed at $67.04. This uptrend marked a 52.39% gain. WEC Energy gained a 1.72% since Tuesday after breaking out over its last top at $100.43
  • On October 16 broke out above its latest top at $100.43
  • WEC Energy Group, Inc., through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States.

Please read:
The comments given in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this text does not have any knowledge of the individual conditions of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are expressed for educative motives only

WEC Energy stock charts

Should I buy WEC Energy stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $WEC stock a buy?

Currently, WEC Energy stock matches one trading strategy:

Uptrend buy setup

WEC Energy stock is in an uptrend since last March that so far marked a gorgeous 52% gain. Price marked a pull back in this uptrend at $92.76 in late September, and since then it bounced up a 10.13%. Price just broke out above the buy point at $100.43, but it's still eligible. If price goes above $105.45, don't chase the price and wait for the next pullback. If you decide to enter this trade, the suggested stop loss is at $90.39

Buy setupBuy pointStop lossRisk
Uptrend buy setup$100.43$90.3910%

Should I sell WEC Energy stock?

Knowing when to sell a stock is even more difficult than knowing when to buy it. In the same way as when we have to buy shares, deciding when is the best time to sell is not a random decision, and we must adhere our own trading strategy. We like very simple strategies to guide us on when is a good time to sell our shares. Be aware that these strategies are not intended for selling short $WEC stock

A guiding principle is that you should not keep an open trade that produces losses greater than those expected by the time of the buy. The moment to sell shares must always be ruled by the stop-loss (automatic or manual)

Is it time to sell WEC Energy stock?

Currently, WEC Energy stock doesn't match any of our preferred sell setups, so if you hold WEC Energy stock and your operation is in profit probably is not time to sell now

Analysts' recommendations to buy or sell WEC Energy stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last month, just one rating was published for WEC Energy

WEC Energy ratings

Brokerage firmRating
Oct 19th, 2020
KeyCorp Buy

Technical analysis

WEC Energy stock started an uptrend last March, and gained a gorgeous 52.39%. The price action shows higher highs and higher troughs, and along the way provided some buying opportunities for those who wanted to invest. Latest low was in late September, when price bounced at $92.76. WEC Energy broke out above $100.43 (its last top) on Tuesday. That breakout was a good buying opportunity

SMAs overview

Moving averages are simple indicators for traders to gauge market momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

WEC SMAs chart

Supports and resistances

Technical analysts use support and resistance levels to identify price points on a chart that may behave as obstacles, containing the price of a stock to move in certain direction. A support level is a level where the price may find support as it falls. This means that the price is more likely to "bounce off" this level rather than break through it. Nevertheless, if the price breaks down the support, it will probably continue falling until finding another support level. On the contrary, a resistance level is where the price tends to find resistance as it rises. Again, the price is more likely to "rebound" at this level, and if it finally crosses this level, the price will rally more easily until it approaches the next resistance

The current resistance levels are:

  • R1: $107.97 (5.69% above)
  • The current supports are:

  • S1: $100.43 (-1.69% below)
  • S2: $99.56 (-2.55% below)
  • S3: $95.53 (-6.49% below)
  • Bollinger bands

    This is an indicator that was introduced in the 1980s by John Bollinger. Essentially, the Bollinger Bands are bands that flow around a moving average and vary the distance from the bottom to the top depending on market volatility. They are usually drawn by an interval of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    The price is trading near to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a bearish indicator, as price can trade in these levels for many days and weeks

    WEC RSI chart

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that measures price movements to reveal when the share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI moves in a range between 0% and 100%. J. Welles Wilder introduced the relative strength indicator in 1978 and since then it has been widely used by stock traders

    The RSI dropped below the overbought level of 70 in early September after just crossing to the overbough zone for just one day (weak signal). The RSI value today was 67.76. Since that level was lost, WEC Energy stock exploded a 4.88%

    WEC RSI chart

    Earnings and financials

    In early August, WEC Energy Group, Inc. ($WEC) reported EPS for fiscal second-quarter that slightly uplifted analysts' expectations. Quarterly EPS was $0.76 per share compared to the forecasted $0.69. This Q2 report means an earnings surprise of 10.14%.

    Same quarter one year ago, reported EPS was $0.74, so recently reported EPS is an improvement of 2.7%.

    WEC Energy ($WEC) will host the Q3 earnings call on Tuesday next week. Wall Street predicts a per-share earnings of $0.76, compared to Q2 that made $0.76.

    WEC revenues and profits chart