Water Intelligence plc Stock Forecast
Strong day for Water Intelligence plc stock price on Thursday rising 9.12% to £371.00
(Updated on May 02, 2024)
The Water Intelligence plc stock price gained 9.12% on the last trading day (Thursday, 2nd May 2024), rising from £340.00 to £371.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.85% from a day low at £344.00 to a day high of £371.00. The price has risen in 6 of the last 10 days and is up by 16.89% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 24 thousand shares were bought and sold for approximately £8.82 million. 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.
Given the current short-term trend, the stock is expected to fall -15.58% during the next 3 months and, with a 90% probability hold a price between £258.47 and £313.20 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WATR.L Signals & Forecast
The Water Intelligence plc 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 £335.79 and £329.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 16.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Water Intelligence plc stock
Water Intelligence plc finds support from accumulated volume at £370.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £27.00 (7.85%) between high and low. For the last week, the stock has had daily average volatility of 4.83%.
Our recommended stop-loss: £359.87 (-3.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (WATR.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Water Intelligence plc to open at £362.00, and during the day (based on 14 day Average True Range), to move between £357.31 and £384.69, which gives a possible trading interval of +/-£13.69 (+/-3.69%) up or down from last closing price. If Water Intelligence plc takes out the full calculated possible swing range there will be an estimated 7.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £370.00 (0.27%) than the resistance at £377.50 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Water Intelligence plc stock A Buy?
Water Intelligence plc 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 Water Intelligence plc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £362.00 ( 2.43%) | £371.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WATR.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 389.00 | 4.85 % | |
| R2 | 378.69 | 2.07 % | ||
| R1 | 372.31 | 0.354 % | ||
| Current price: | 371.00 | |||
| Support | S1 | 351.69 | -5.21 % | |
| S2 | 345.31 | -6.92 % | ||
| S3 | 335.00 | -9.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 390.00 | 5.12 % | |
| R2 | 387.50 | 4.45 % | ||
| R1 | 377.50 | 1.75 % | ||
| Current price | 371.00 | |||
| Support | S1 | 370.00 | -0.270% | |
| S2 | 327.50 | -11.73% | ||
| S3 | 320.00 | -13.75% |
FAQ
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