Worldgate Global Logistics Ltd Stock Forecast

Worldgate Global Logistics Ltd stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)

8292.HK Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Worldgate Global Logistics Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0653 and HK$0.0695. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -19.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Worldgate Global Logistics Ltd stock

Worldgate Global Logistics Ltd finds support from accumulated volume at HK$0.0640 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (8292.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Worldgate Global Logistics Ltd to open at HK$0.0650, and during the day (based on 14 day Average True Range), to move between HK$0.0635 and HK$0.0665, which gives a possible trading interval of +/-HK$0.0015 (+/-2.23%) up or down from last closing price. If Worldgate Global Logistics Ltd takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.0660 (1.54%) than the support at HK$0.0640 (1.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Worldgate Global Logistics Ltd stock A Buy?

The Worldgate Global Logistics Ltd stock holds several negative signals and despite the positive trend, we believe Worldgate Global Logistics Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.340 Sell Candidate Downgraded

Predicted Opening Price for Worldgate Global Logistics Ltd of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.