Wesizwe Platinum Limited 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
On Tuesday, Wesizwe Platinum Limited stock price gained an impressive 5.77%
(Updated on Jun 25, 2024)
The Wesizwe Platinum Limited stock price gained 5.77% on the last trading day (Tuesday, 25th Jun 2024), rising from $52.00 to $55.00. During the last trading day the stock fluctuated 1.85% from a day low at $54.00 to a day high of $55.00. The price has risen in 5 of the last 10 days but is still down by -3.51% for this period. Volume fell on the last day by -90 thousand shares and in total, 32 thousand shares were bought and sold for approximately $1.74 million. 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 $50.30 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 13.43% during the next 3 months and, with a 90% probability hold a price between $57.06 and $87.03 at the end of this 3-month period.
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WEZ.JO Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -25.68%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Wesizwe Platinum Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $51.57 and $52.20. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Wesizwe Platinum Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $50.00 and $48.00. 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, Wesizwe Platinum Limited finds support just below today's level at $50.00. If this is broken, then the next support from accumulated volume will be at $48.00 and $47.00.
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 $1.00 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 5.56%.
Our recommended stop-loss: $52.03 (-5.40%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (WEZ.JO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wesizwe Platinum Limited to open at $54.67, and during the day (based on 14 day Average True Range), to move between $50.33 and $59.67, which gives a possible trading interval of +/-$4.67 (+/-8.49%) up or down from last closing price. If Wesizwe Platinum Limited takes out the full calculated possible swing range there will be an estimated 16.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $58.00 (5.45%) than the support at $50.00 (9.09%), 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 Wesizwe Platinum Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.360 Buy Candidate Unchanged
Predicted Opening Price for Wesizwe Platinum Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $54.67 ( 0.606%) | $55.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEZ.JO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.67 | 1.21% |
| R2 | 55.28 | 0.518% |
| R1 | 55.05 | 0.0885% |
| Price | 55.00 | |
| S1 | 54.28 | -1.30% |
| S2 | 54.05 | -1.73% |
| S3 | 53.67 | -2.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.00 | 16.36% |
| R2 | 60.00 | 9.09% |
| R1 | 58.00 | 5.45% |
| Price | 55.00 | |
| S1 | 50.00 | -9.09% |
| S2 | 48.00 | -12.73% |
| S3 | 47.00 | -14.55% |
FAQ
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