Cleanaway Waste Management Limited Stock Forecast
Cleanaway Waste Management Limited stock downgraded from Strong Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The Cleanaway Waste Management Limited stock price fell by -3.62% on the last day (Friday, 17th May 2024) from $2.76 to $2.66. During the last trading day the stock fluctuated 3.38% from a day low at $2.66 to a day high of $2.75. The price has risen in 5 of the last 10 days but is still down by -1.48% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 4 million shares were bought and sold for approximately $10.89 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $2.68. A reaction back to this level may hold a second chance to get out before further falls.
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CWY.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cleanaway Waste Management Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.71 and $2.68. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cleanaway Waste Management Limited stock
Cleanaway Waste Management Limited finds support from accumulated volume at $2.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0900 between high and low, or 3.38%. For the last week, the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CWY.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Cleanaway Waste Management Limited to open at $2.69, and during the day (based on 14 day Average True Range), to move between $2.59 and $2.73, which gives a possible trading interval of +/-$0.0743 (+/-2.79%) up or down from last closing price. If Cleanaway Waste Management Limited takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.64 (0.75%) than the resistance at $2.69 (1.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cleanaway Waste Management Limited stock A Buy?
The Cleanaway Waste Management Limited stock holds several negative signals and despite the positive trend, we believe Cleanaway Waste Management Limited 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 Strong Buy to a Sell candidate.
Current score: -1.907 Sell Candidate Downgraded
Predicted Opening Price for Cleanaway Waste Management Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.69 ( 1.13%) | $2.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CWY.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.78 | 4.51 % | |
| R2 | 2.75 | 3.22 % | ||
| R1 | 2.72 | 2.42 % | ||
| Current price: | 2.66 | |||
| Support | S1 | 2.66 | -0.165 % | |
| S2 | 2.63 | -0.96 % | ||
| S3 | 2.60 | -2.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.71 | 1.88 % | |
| R2 | 2.70 | 1.50 % | ||
| R1 | 2.69 | 1.13 % | ||
| Current price | 2.66 | |||
| Support | S1 | 2.64 | -0.752% | |
| S2 | 2.61 | -1.88% | ||
| S3 | 2.60 | -2.26% |
CWY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 01, 2024 | Apr 08, 2024 | $0.0245 | 0.91% |
| 2 | Mar 06, 2023 | Mar 06, 2023 | Mar 06, 2023 | $0.0245 | 0.95% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | $0.0245 | 0.89% |
| 4 | Feb 28, 2022 | Feb 28, 2022 | Feb 28, 2022 | $0.0245 | 0.88% |
| 5 | Sep 10, 2021 | Sep 10, 2021 | Sep 10, 2021 | $0.0235 | 0.88% |
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