Webuy Global Ltd Stock Forecast

High volatility in Webuy Global Ltd stock price on Thursday which ended trading at $0.600
(Updated on May 16, 2024)

WBUY Signals & Forecast

The Webuy Global Ltd 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 $0.565 and $0.413. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 93.55%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.

Support, Risk & Stop-loss for Webuy Global Ltd stock

Webuy Global Ltd finds support from accumulated volume at $0.575 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 periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0570 between high and low, or 10.16%. For the last week the stock has had daily average volatility of 12.93%.

The Webuy Global Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $0.584 (-2.73%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 95 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (WBUY) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Webuy Global Ltd to open at $0.593, and during the day (based on 14 day Average True Range), to move between $0.549 and $0.651, which gives a possible trading interval of +/-$0.0515 (+/-8.58%) up or down from last closing price. If Webuy Global Ltd takes out the full calculated possible swing range there will be an estimated 17.16% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.575, some $0.0250 (4.17%) from the current price of $0.600, our system finds the risk reward attractive.

Is Webuy Global Ltd stock A Buy?

Webuy Global Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 5.563 Strong Buy Candidate Upgraded

Predicted Opening Price for Webuy Global Ltd of Friday, May 17, 2024

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