Western Alaska Minerals Corp. Stock Forecast

Western Alaska Minerals Corp. stock price took a fall of -5.56% on Thursday
(Updated on Jun 13, 2024)

WAM.V Signals & Forecast

The Western Alaska Minerals Corp. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $0.88. On a fall, the stock will find some support from the long-term average at approximately $0.746. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, May 28, 2024, and so far it has fallen -9.57%. 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). Western Alaska Minerals Corp. 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 Western Alaska Minerals Corp. stock

Western Alaska Minerals Corp. finds support from accumulated volume at $0.82 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 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 $0.0400 between high and low, or 4.71%. For the last week, the stock has had daily average volatility of 8.13%.

Our recommended stop-loss: $0.81 (-4.95%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 30 days ago.)

Trading Expectations (WAM.V) For The Upcoming Trading Day Of Friday 14th

For the upcoming trading day on Friday, 14th we expect Western Alaska Minerals Corp. to open at $0.86, and during the day (based on 14 day Average True Range), to move between $0.796 and $0.90, which gives a possible trading interval of +/-$0.0538 (+/-6.33%) up or down from last closing price. If Western Alaska Minerals Corp. takes out the full calculated possible swing range there will be an estimated 12.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.87 (2.35%) than the support at $0.82 (3.53%), 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 Western Alaska Minerals Corp. stock A Buy?

Western Alaska Minerals Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.759 Hold/Accumulate Downgraded

Predicted Opening Price for Western Alaska Minerals Corp. of Friday, June 14, 2024

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