Where Will Encore Wire Corp (WIRE) Stock Go Next After It Has Gained 7.47% in a Week?

Encore Wire Corp (WIRE) stock has gained 7.47% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Encore Wire Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on WIRE!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With WIRE Stock Today?

Encore Wire Corp (WIRE) stock is trading at $255.07 as of 11:14 AM on Wednesday, Mar 27, an increase of $6.02, or 2.42% from the previous closing price of $249.05. The stock has traded between $251.47 and $256.10 so far today. Volume today is light. So far 30,787 shares have traded compared to average volume of 191,517 shares.

More About Encore Wire Corp

Encore Wire Corp is engaged in manufacturing electrical building wire and cable. It supplies building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The company's principal customers are wholesale electrical distributors, who sell building wire and a variety of other products to electrical contractors. Encore offers an electrical building wire product line that consists primarily of NM-B cable, UF-B cable, THHN/THWN-2, XHHW-2, RHH/RHW-2, and other types of wire products, including tray cable, metal-clad, and armored cable. Click Here to get the full Stock Report for Encore Wire Corp stock.