World Copper Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
A very strong day for World Copper Ltd. stock price on Friday
(Updated on Jun 14, 2024)
The World Copper Ltd. stock price gained 9.30% on the last trading day (Friday, 14th Jun 2024), rising from $0.215 to $0.235. During the last trading day the stock fluctuated 6.82% from a day low at $0.220 to a day high of $0.235. The price has fallen in 6 of the last 10 days but is still up by 9.3% over the past 2 weeks. Volume fell on the last day by -187 thousand shares and in total, 8 thousand shares were bought and sold for approximately $1.95 thousand. 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 part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.219 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 155.88% during the next 3 months and, with a 90% probability hold a price between $0.560 and $1.05 at the end of this 3-month period.
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WCU.V Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -32.86%. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The World Copper 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 $0.234 and $0.231. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for World Copper Ltd. stock
World Copper Ltd. finds support from accumulated volume at $0.225 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 $0.0150 between high and low, or 6.82%. For the last week the stock has had daily average volatility of 12.79%.
Our recommended stop-loss: $0.221 (-5.82%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (WCU.V) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect World Copper Ltd. to open at $0.230, and during the day (based on 14 day Average True Range), to move between $0.204 and $0.266, which gives a possible trading interval of +/-$0.0306 (+/-13.03%) up or down from last closing price. If World Copper Ltd. takes out the full calculated possible swing range there will be an estimated 26.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.225 (4.26%) than the resistance at $0.250 (6.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is World Copper Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for World Copper Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 2.106 Buy Candidate Upgraded
Predicted Opening Price for World Copper Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.230 ( 2.13%) | $0.235 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCU.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.245 | 4.26% |
| R2 | 0.239 | 1.82% |
| R1 | 0.236 | 0.311% |
| Price | 0.235 | |
| S1 | 0.224 | -4.57% |
| S2 | 0.221 | -6.07% |
| S3 | 0.215 | -8.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.270 | 14.89% |
| R2 | 0.255 | 8.51% |
| R1 | 0.250 | 6.38% |
| Price | 0.235 | |
| S1 | 0.225 | -4.26% |
| S2 | 0.215 | -8.51% |
| S3 | 0.180 | -23.40% |
FAQ
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