Webuy Global Ltd Stock Forecast
Red day on Wednesday for Webuy Global Ltd
(Updated on May 01, 2024)
The Webuy Global Ltd stock price fell by -1.95% on the last day (Wednesday, 1st May 2024) from $0.379 to $0.372. During the last trading day the stock fluctuated 8.00% from a day low at $0.360 to a day high of $0.389. The price has risen in 5 of the last 10 days and is up by 20% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -146 thousand shares and in total, 96 thousand shares were bought and sold for approximately $35.82 thousand.
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 -25.33% during the next 3 months and, with a 90% probability hold a price between $0.212 and $0.345 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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WBUY Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 20.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Webuy Global Ltd 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 $0.378. On a fall, the stock will find some support from the short-term average at $0.342. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Webuy Global Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.338 and $0.319. 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, Webuy Global Ltd finds support just below today's level at $0.338. If this is broken, then the next support from accumulated volume will be at $0.319 and $0.310.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0288 between high and low, or 8.00%. For the last week the stock has had daily average volatility of 14.20%.
Our recommended stop-loss: $0.357 (-4.12%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (WBUY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Webuy Global Ltd to open at $0.374, and during the day (based on 14 day Average True Range), to move between $0.335 and $0.409, which gives a possible trading interval of +/-$0.0369 (+/-9.91%) up or down from last closing price. If Webuy Global Ltd takes out the full calculated possible swing range there will be an estimated 19.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.374 (0.54%) than the support at $0.338 (9.19%), 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 Webuy Global Ltd stock A Buy?
Webuy Global Ltd 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: -0.796 Hold/Accumulate Unchanged
Predicted Opening Price for Webuy Global Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $0.374 ( 0.466%) | $0.372 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WBUY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.403 | 8.21 % | |
| R2 | 0.392 | 5.25 % | ||
| R1 | 0.385 | 3.42 % | ||
| Current price: | 0.372 | |||
| Support | S1 | 0.363 | -2.49 % | |
| S2 | 0.356 | -4.32 % | ||
| S3 | 0.345 | -7.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.421 | 13.06 % | |
| R2 | 0.420 | 12.90 % | ||
| R1 | 0.374 | 0.538 % | ||
| Current price | 0.372 | |||
| Support | S1 | 0.338 | -9.19% | |
| S2 | 0.319 | -14.25% | ||
| S3 | 0.310 | -16.67% |
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