- Weis Markets (WMK) has strong technical indicators and is trading above its daily moving averages.
- The stock is flashing a 100% technical “buy” signal and has gained nearly 35% over the past year.
- Despite not being widely followed by Wall Street, individual investors are bullish, with Value Line giving WMK its highest rating.
Today’s Featured Stock:
Valued at $2.26 billion Weis Markets (WMK) operates 198 retail food markets as of the end of 2024, including both superstores and conventional stores. Its footprint is concentrated in Pennsylvania and Maryland, although it also has stores in Virginia, New York, New Jersey, Delaware, and West Virginia.
What I’m Watching:
I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipchart feature to review the charts for consistent price appreciation. WMK checks those boxes. Since the Trend Seeker signaled a “buy” on April 2, the stock has gained 6.27%.
On the chart, you can note that the stock is trading above all of its daily moving averages and has rising prices on steady volume.
WMK Price vs. Daily Moving Averages:
Barchart Technical Indicators for Weis:
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Investors should note that WMK hit a new 52-week high on Tuesday, April 22.
- Weis has a 100% technical “buy” signal.
- The stock closed at $84.08 on April 22, hitting a new 52-week high
- WMK has a Weighted Alpha of +37.95.
- The stock has gained 34.4% over the past year.
- Trend Seeker “buy” signal intact.
- WMK is trading above its 20, 50 and 100-day moving averages.
- The stock has made 9 new highs and is up 10.3% in the last month.
- The 14-day Relative Strength Index is at 65.59%.
- The technical support level is at $81.93
Follow the Fundamentals:
- Trailing price/earnings (P/E) ratio of 20.16x.
- Forward dividend yield of 1.62%.
- Wall Street has not discovered this stock yet so there aren’t any revenue and earnings projections.
Analyst and Investor Sentiment on Weis:
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.
It looks like Wall Street hasn't discovered this stock yet but individual investors have and are bullish on WMK.
- Value Line gives the stock its highest rating and has a price target of $85.
- CFRA’s MarketScope gives the stock a “Hold” rating.
- MorningStar thinks the stock is 5% overvalued mainly because its recent price has driven up the P/E ratio.
- Of the 178 investors following the stock on Motley Fool, 135 investors think the stock will beat the market while 43 think it won’t.
- 1,970 investors monitor the stock on Seeking Alpha
The Bottom Line:
Weis currently has market momentum but it will have a hard time taking market share from some much bigger rivals like Kroger (KR), Walmart (WMT), Costco (COST) and Amazon’s (AMZN) Whole Foods.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
