Woodside Energy Group Ltd Stock Forecast

Buy candidate since Jan 21, 2025

The Woodside Energy Group Ltd stock price gained 2.45% on the last trading day (Tuesday, 21st Jan 2025), rising from $15.93 to $16.32. During the last trading day the stock fluctuated 2.76% from a day low at $15.95 to a day high of $16.39. The price has risen in 6 of the last 10 days and is up by 3.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 397 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $16.54 million.

Given the current horizontal trend, you can expect Woodside Energy Group Ltd stock with a 90% probability to be traded between $13.98 and $16.00 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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WDS Signals & Forecast

Mostly positive signals in the chart today. The Woodside Energy Group 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 $16.07 and $15.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 18, 2024, and so far it has risen 13.57%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Friday, November 29, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Woodside Energy Group Ltd stock

Woodside Energy Group Ltd finds support from accumulated volume at $16.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.440 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 1.55%.

Our recommended stop-loss: $15.42 (-5.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (WDS) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Woodside Energy Group Ltd to open at $16.22, and during the day (based on 14 day Average True Range), to move between $15.99 and $16.65, which gives a possible trading interval of +/-$0.326 (+/-2.00%) up or down from last closing price. If Woodside Energy Group Ltd takes out the full calculated possible swing range there will be an estimated 3.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.36 (0.25%) than the support at $16.11 (1.29%), 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 Woodside Energy Group Ltd stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Woodside Energy Group Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.380 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on January 22, 2025 - $16.22 ( 0.613%).