WidePoint Corp Stock Forecast
Big movements in WidePoint Corp stock price on Thursday moving 15.54% between high and low
(Updated on Mar 28, 2024)
The WidePoint Corp stock price gained 1.57% on the last trading day (Thursday, 28th Mar 2024), rising from $2.55 to $2.59. During the last trading day the stock fluctuated 15.54% from a day low at $2.25 to a day high of $2.60. The price has fallen in 5 of the last 10 days and is down by -1.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 thousand more shares were traded than the day before. In total, 72 thousand shares were bought and sold for approximately $185.86 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.58% during the next 3 months and, with a 90% probability hold a price between $2.30 and $3.57 at the end of this 3-month period.
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WYY Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). WidePoint Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The WidePoint Corp stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.71. On a fall, the stock will find some support from the short-term average at $2.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, January 30, 2024, and so far it has fallen -24.27%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for WidePoint Corp stock
WidePoint Corp finds support from accumulated volume at $2.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.350 (15.54%) between high and low. For the last week, the stock has had daily average volatility of 6.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WYY) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect WidePoint Corp to open at $2.48, and during the day (based on 14 day Average True Range), to move between $2.43 and $2.75, which gives a possible trading interval of +/-$0.164 (+/-6.32%) up or down from last closing price. If WidePoint Corp takes out the full calculated possible swing range there will be an estimated 12.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.53 (2.32%) than the resistance at $3.06 (18.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WidePoint Corp stock A Buy?
WidePoint Corp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.767 Sell Candidate Unchanged
Predicted Opening Price for WidePoint Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$2.48 ( 4.25%) | $2.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WYY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.83 | 9.25 % | |
R2 | 2.70 | 4.09 % | ||
R1 | 2.61 | 0.90 % | ||
Current price: | 2.59 | |||
Support | S1 | 2.35 | -9.41 % | |
S2 | 2.26 | -12.59 % | ||
S3 | 2.13 | -17.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.23 | 24.71 % | |
R2 | 3.08 | 18.92 % | ||
R1 | 3.06 | 18.15 % | ||
Current price | 2.59 | |||
Support | S1 | 2.53 | -2.32% | |
S2 | 2.34 | -9.65% | ||
S3 | 2.32 | -10.42% |
FAQ
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