USA A1 Trading Advice (C) | 18-Sep-2024 | Expected Gain 5%-6%

 BUY   Westinghouse Air Brake Technologies (NYSE: WAB)

Westinghouse Air Brake Technologies (NYSE: WAB) STOCK RECOMMENDATION

Idea BUY
Buy Range 170 – 172
Target 180 – 182
StopLoss* below 167
Duration 8-10 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 170 – 172 180 – 182 below 167 8-10 Trading Days 5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

Westinghouse Air Brake Technologies (NYSE: WAB) STOCK OVERVIEW

Westinghouse Air Brake Technologies Corporation, along with its subsidiaries, delivers innovative technology for locomotives, equipment, systems, and services across the global freight rail and passenger transit sectors. Their offerings include diesel-electric, battery, and LNG-powered locomotives, as well as engines, electric motors, and propulsion systems, plus products for marine and mining applications. The company specializes in positive train control, pneumatic braking, railway electronics, signal design, and engineering services. They also provide distributed locomotive power, train cruise controls, and remote controls, alongside IoT hardware and software solutions for asset performance management. Additional services encompass transportation management, port optimization, and network solutions. Their product range includes freight car trucks, braking systems, air compressors, heat transfer components, and new commuter locomotives. They also offer refurbishment and maintenance services for locomotives and cars, along with various railway braking components and HVAC systems. Founded in 1869, the company is based in Pittsburgh, Pennsylvania.

Stock Data
NYSE Symbol WAB
Sectoral Index Railroads
52 Weeks High 172
52 Weeks Low 98.7

Westinghouse Air Brake Technologies (NYSE: WAB) - RELATIVE STRENGTH

IBKR-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Westinghouse Air Brake Technologies —     NYSE —

Westinghouse Air Brake Technologies (NYSE: WAB) - DAILY TECHNICAL ANALYSIS

Westinghouse Air Brake Technologies (NYSE: WAB) - Technical Analysis (Daily)
  • The daily chart indicates that the stock price is exhibiting a general upward trend.
  • During this upward movement, the price encountered resistance near the $120 level, subsequently entered a phase of consolidation that resulted in the formation of a Rounding Bottom pattern.
  • After breaking out, the stock price experienced a significant increase; however, it met another considerable resistance around the $170 level, lea to a subsequent decline.
  • This drop brought the price down to the $150 level, where it found support and began to recover.
  • Following a period of consolidation, the stock price ultimately developed an Inverted Head & Shoulders pattern.
  • Recently, with a new breakout, the price is poised for further upward movement.

Westinghouse Air Brake Technologies (NYSE: WAB) - RSI

WAB-RSI
Westinghouse Air Brake Technologies (NYSE: WAB) - RSI
  • Current RSI of this stock is 70.38, which indicates the strength of buyers.

Westinghouse Air Brake Technologies (NYSE: WAB) - MACD

WAB-MACD
Westinghouse Air Brake Technologies (NYSE: WAB) - MACD
  • MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.

Westinghouse Air Brake Technologies (NYSE: WAB) - ADX & DI

Westinghouse Air Brake Technologies (NYSE: WAB) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Westinghouse Air Brake Technologies (NYSE: WAB) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Westinghouse Air Brake Technologies stock price target will be USD 180 – USD 182 in the next 8-10 trading sessions.

Westinghouse Air Brake Technologies (NYSE: WAB) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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