Whole Earth Brands Inc Stock Forecast
Whole Earth Brands Inc stock price ended at $0.0585 on Tuesday, after losing 3.47%.
(Updated on Jun 25, 2024)
The Whole Earth Brands Inc stock price fell by -3.47% on the last day (Tuesday, 25th Jun 2024) from $0.0606 to $0.0585. During the last trading day the stock fluctuated 2.56% from a day low at $0.0585 to a day high of $0.0600. The price has fallen in 4 of the last 10 days and is down by -2.34% for this period. Volume has increased on the last day by 14 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 thousand shares were bought and sold for approximately $824.97 .
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.0641 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Whole Earth Brands Inc stock with a 90% probability to be traded between $0.0323 and $0.0642 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FREEW Signals & Forecast
The Whole Earth Brands Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0574 and $0.0503. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -3.78%. Further fall is indicated until a new bottom pivot has been found. Whole Earth Brands Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Whole Earth Brands Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0550 and $0.0502. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Whole Earth Brands Inc finds support just below today's level at $0.0550. If this is broken, then the next support from accumulated volume will be at $0.0502 and $0.0452.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0015 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 0.513%.
Our recommended stop-loss: $0.0563 (-3.71%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (FREEW) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Whole Earth Brands Inc to open at $0.0590, and during the day (based on 14 day Average True Range), to move between $0.0507 and $0.0663, which gives a possible trading interval of +/-$0.0078 (+/-13.29%) up or down from last closing price. If Whole Earth Brands Inc takes out the full calculated possible swing range there will be an estimated 26.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0600 (2.56%) than the support at $0.0550 (5.98%), 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 Whole Earth Brands Inc stock A Buy?
Whole Earth Brands Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Whole Earth Brands Inc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0590 ( 0.85%) | $0.0585 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FREEW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0605 | 3.42% |
| R2 | 0.0599 | 2.44% |
| R1 | 0.0596 | 1.83% |
| Price | 0.0585 | |
| S1 | 0.0584 | -0.125% |
| S2 | 0.0581 | -0.730% |
| S3 | 0.0575 | -1.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0640 | 9.40% |
| R2 | 0.0601 | 2.74% |
| R1 | 0.0600 | 2.56% |
| Price | 0.0585 | |
| S1 | 0.0550 | -5.98% |
| S2 | 0.0502 | -14.19% |
| S3 | 0.0452 | -22.74% |
FAQ
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