The Westaim Corporation Stock Forecast
The Westaim Corporation stock price ended at $4.05 on Friday, after losing 1.70%.
(Updated on Jun 14, 2024)
The The Westaim Corporation stock price fell by -1.70% on the last day (Friday, 14th Jun 2024) from $4.12 to $4.05. During the last trading day the stock fluctuated 2.74% from a day low at $4.02 to a day high of $4.13. The price has fallen in 6 of the last 10 days and is down by -1.22% for this period. 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 -84 thousand shares and in total, 42 thousand shares were bought and sold for approximately $171.39 thousand.
The stock lies in the lower part of a 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 $3.98 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 16.22% during the next 3 months and, with a 90% probability hold a price between $4.62 and $5.13 at the end of this 3-month period.
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WED.V Signals & Forecast
The The Westaim Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $4.08. On a fall, the stock will find some support from the long-term average at approximately $4.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -4.48%. 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 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.
Support, Risk & Stop-loss for The Westaim Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.72 and $3.62. 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, The Westaim Corporation finds support just below today's level at $3.72. If this is broken, then the next support from accumulated volume will be at $3.62 and $3.58.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.110 between high and low, or 2.74%. For the last week the stock has had daily average volatility of 3.69%
Our recommended stop-loss: $3.80 (-6.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (WED.V) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect The Westaim Corporation to open at $4.07, and during the day (based on 14 day Average True Range), to move between $3.95 and $4.15, which gives a possible trading interval of +/-$0.103 (+/-2.54%) up or down from last closing price. If The Westaim Corporation takes out the full calculated possible swing range there will be an estimated 5.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.12 (1.73%) than the support at $3.72 (8.15%), 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 The Westaim Corporation 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 The Westaim Corporation stock to perform well in the short-term.
Current score: 1.793 Buy Candidate Unchanged
Predicted Opening Price for The Westaim Corporation of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $4.07 ( 0.412%) | $4.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WED.V
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.18 | 3.13% |
| R2 | 4.13 | 2.09% |
| R1 | 4.11 | 1.45% |
| Price | 4.05 | |
| S1 | 4.02 | -0.626% |
| S2 | 4.00 | -1.27% |
| S3 | 3.96 | -2.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.18 | 3.21% |
| R2 | 4.15 | 2.47% |
| R1 | 4.12 | 1.73% |
| Price | 4.05 | |
| S1 | 3.72 | -8.15% |
| S2 | 3.62 | -10.62% |
| S3 | 3.58 | -11.60% |
WED Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 30, 2020 | Dec 30, 2020 | Dec 30, 2020 | $0.126 | 5.14% |
| 2 | Oct 01, 2012 | Oct 01, 2012 | Oct 01, 2012 | $37.50 | 2,500.00% |
FAQ
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