Top Wealth Group Holding Ltd Ordinary Stock Forecast
Green day on Monday for Top Wealth Group Holding Ltd Ordinary
(Updated on Jun 24, 2024)
The Top Wealth Group Holding Ltd Ordinary stock price gained 0.86% on the last trading day (Monday, 24th Jun 2024), rising from $0.90 to $0.90. During the last trading day the stock fluctuated 5.81% from a day low at $0.86 to a day high of $0.91. The price has risen in 6 of the last 10 days but is still down by -5.97% for this period. Volume fell on the last day by -45 thousand shares and in total, 34 thousand shares were bought and sold for approximately $30.77 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -29.76% during the next 3 months and, with a 90% probability hold a price between $0.196 and $1.88 at the end of this 3-month period.
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TWG Signals & Forecast
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. The Top Wealth Group Holding Ltd Ordinary 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 $0.98 and $1.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -75.80%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Top Wealth Group Holding Ltd Ordinary stock
Top Wealth Group Holding Ltd Ordinary finds support from accumulated volume at $0.90 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0500 between high and low, or 5.81%. For the last week the stock has had daily average volatility of 10.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TWG) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Top Wealth Group Holding Limited Ordinary Shares to open at $0.89, and during the day (based on 14 day Average True Range), to move between $0.754 and $1.05, which gives a possible trading interval of +/-$0.149 (+/-16.52%) up or down from last closing price. If Top Wealth Group Holding Limited Ordinary Shares takes out the full calculated possible swing range there will be an estimated 33.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.90 (0.85%) than the resistance at $0.97 (7.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Top Wealth Group Holding Limited Ordinary Shares stock A Buy?
Top Wealth Group Holding Ltd Ordinary holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.685 Sell Candidate Unchanged
Predicted Opening Price for Top Wealth Group Holding Limited Ordinary Shares of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.89 ( 1.31%) | $0.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TWG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.94 | 4.23% |
| R2 | 0.92 | 2.12% |
| R1 | 0.91 | 0.81% |
| Price | 0.90 | |
| S1 | 0.87 | -3.42% |
| S2 | 0.86 | -4.73% |
| S3 | 0.84 | -6.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.12 | 24.07% |
| R2 | 0.99 | 9.67% |
| R1 | 0.97 | 7.34% |
| Price | 0.90 | |
| S1 | 0.90 | -0.85% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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