World Copper Ltd. Stock Forecast
Volatile ride for World Copper Ltd. stock price on Friday moving between $0.191 and $0.223
(Updated on May 17, 2024)
The World Copper Ltd. stock price gained 8.33% on the last trading day (Friday, 17th May 2024), rising from $0.203 to $0.220. 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 17.27% from a day low at $0.191 to a day high of $0.223. The price has risen in 7 of the last 10 days and is up by 90.15% over the past 2 weeks. Volume fell on the last day by -33 thousand shares and in total, 415 thousand shares were bought and sold for approximately $91.41 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.
Given the current short-term trend, the stock is expected to rise 107.88% during the next 3 months and, with a 90% probability hold a price between $0.267 and $0.457 at the end of this 3-month period.
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WCUFF Signals & Forecast
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 $0.169 and $0.106. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 27, 2024, and so far it has risen 405.75%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for World Copper Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.203 and $0.170. 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, World Copper Ltd. finds support just below today's level at $0.203. If this is broken, then the next support from accumulated volume will be at $0.170 and $0.168.
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 $0.0329 between high and low, or 17.27%. For the last week the stock has had daily average volatility of 22.63%.
The World Copper 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: $0.214 (-2.80%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (WCUFF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect World Copper Ltd. to open at $0.211, and during the day (based on 14 day Average True Range), to move between $0.202 and $0.238, which gives a possible trading interval of +/-$0.0183 (+/-8.32%) up or down from last closing price. If World Copper Ltd. takes out the full calculated possible swing range there will be an estimated 16.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.203, some $0.0169 (7.69%) from the current price of $0.220, our system finds the risk reward attractive.
Is World Copper Ltd. stock A Buy?
World Copper Ltd. holds several positive signals and is within a strong 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.
Current score: 7.844 Strong Buy Candidate Unchanged
Predicted Opening Price for World Copper Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.211 ( 3.95%) | $0.220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WCUFF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.244 | 11.00 % | |
| R2 | 0.232 | 5.29 % | ||
| R1 | 0.224 | 1.76 % | ||
| Current price: | 0.220 | |||
| Support | S1 | 0.199 | -9.67 % | |
| S2 | 0.191 | -13.20 % | ||
| S3 | 0.178 | -18.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.220 | |||
| Support | S1 | 0.203 | -7.69% | |
| S2 | 0.170 | -22.73% | ||
| S3 | 0.168 | -23.82% |
FAQ
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