Winchester Energy 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
Volatile ride for Winchester Energy Ltd stock price on Wednesday moving between A$0.0030 and A$0.0060
(Updated on Jun 26, 2024)
The Winchester Energy Ltd stock price gained 150.00% on the last trading day (Wednesday, 26th Jun 2024), rising from A$0.0020 to A$0.0050. During the last trading day the stock fluctuated 100.00% from a day low at A$0.0030 to a day high of A$0.0060. The price has been going up and down for this period, and there has been a 25% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 696 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately A$19.34 thousand.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at A$0.0043, a level that may pose a second chance to hit a runner. According to fan-theory A$0.0065 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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WEL.AX Signals & Forecast
The Winchester Energy 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 A$0.0034 and A$0.0029. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 150.00%. Further rise is indicated until a new top pivot has been found. Winchester Energy Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Tuesday, June 25, 2024 and based on theory for this formation the price should go up by 2.22% to A$0.0051 within 18 trading days since signal was issued (Friday, July 19, 2024).
Support, Risk & Stop-loss for Winchester Energy Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at A$0.0040. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at A$ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved A$0.0030 between high and low, or 100.00%. For the last week, the stock has had daily average volatility of 30.00%.
Our recommended stop-loss: A$0.0048 (-3.66%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (WEL.AX) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Winchester Energy Ltd to open at A$0.0047, and during the day (based on 14 day Average True Range), to move between A$0.0044 and A$0.0056, which gives a possible trading interval of +/-A$0.0006 (+/-11.16%) up or down from last closing price. If Winchester Energy Ltd takes out the full calculated possible swing range there will be an estimated 22.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ A$0.0040, some A$0.0010 (20.00%) from the current price of A$0.0050, our system finds the risk reward attractive.
Is Winchester Energy Ltd stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Winchester Energy 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 Strong Sell to a Strong Buy candidate.
Current score: 6.590 Strong Buy Candidate Upgraded
Predicted Opening Price for Winchester Energy Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| A$0.0047 ( 6.67%) | A$0.0050 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEL.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0077 | 53.33% |
| R2 | 0.0065 | 30.41% |
| R1 | 0.0058 | 16.25% |
| Price | 0.0050 | |
| S1 | 0.0035 | -29.59% |
| S2 | 0.0028 | -43.75% |
| S3 | 0.0017 | -66.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.0050 | |
| S1 | 0.0040 | -20.00% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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