Wallenius Wilhelmsen ASA stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Sep 30, 2022)
Hold candidate since 2022-09-30 PDF
The Wallenius Wilhelmsen ASA stock price gained 4.02% on the last trading day (Friday, 30th Sep 2022), rising from 52.20 kr to 54.30 kr. During the last trading day the stock fluctuated 4.51% from a day low at 52.05 kr to a day high of 54.40 kr. The price has fallen in 6 of the last 10 days and is down by -0.64% for this period. Volume fell on the last day by -28 thousand shares and in total, 287 thousand shares were bought and sold for approximately 15.60 kr 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.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 52.17 kr is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.55% during the next 3 months and, with a 90% probability hold a price between 50.84 kr and 73.04 kr at the end of this 3-month period.
Signals & Forecast
There are mixed signals in the stock today. The Wallenius Wilhelmsen ASA stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at 57.64 kr. On a fall, the stock will find some support from the short-term average at 54.10 kr. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, September 29, 2022, and so far it has risen 4.02%. Further rise is indicated until a new top pivot has been found. 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
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 2.35 kr between high and low, or 4.51%. For the last week, the stock has had daily average volatility of 4.43%.
Our recommended stop-loss: 52.02 kr (-4.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 days ago.)
Trading Expectations For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Wallenius Wilhelmsen ASA to open at 53.58 kr, and during the day (based on 14 day Average True Range), to move between 51.46 kr and 57.14 kr, which gives a possible trading interval of +/-2.84 kr (+/-5.22%) up or down from last closing price. If Wallenius Wilhelmsen ASA takes out the full calculated possible swing range there will be an estimated 10.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 54.05 kr (0.46%) than the resistance at 56.25 kr (3.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wallenius Wilhelmsen ASA stock A Buy?
Wallenius Wilhelmsen ASA 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.149Hold/Accumulate Upgraded
Predicted Opening Price for Wallenius Wilhelmsen ASA of Monday, October 3, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price October 3, 2022||Current price|
|53.58 kr||54.30 kr (Overvalued)|
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About Wallenius Wilhelmsen ASA
Wallenius Wilhelmsen ASA, together with its subsidiaries, provides roll-on roll-off (RoRo) shipping and vehicle logistics services worldwide. It operates through three segments: Shipping Services, Logistics Services, and Government Services. The company provides liner services through a fleet of approximately 50 modern and versatile RoRo vessels, which carry a mix of products, such as auto, construction, mining, agriculture machinery, and breakbu... WAWI.OL Profile
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