WAM Global Limited Stock Forecast
WAM Global Limited stock price ended at $2.20 on Tuesday, after losing 0.452%.
(Updated on Jun 18, 2024)
The WAM Global Limited stock price fell by -0.452% on the last day (Tuesday, 18th Jun 2024) from $2.21 to $2.20. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.82% from a day low at $2.20 to a day high of $2.24. The price has fallen in 6 of the last 10 days and is down by -1.79% 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 -152 thousand shares and in total, 135 thousand shares were bought and sold for approximately $296.71 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.91% during the next 3 months and, with a 90% probability hold a price between $2.02 and $2.18 at the end of this 3-month period. 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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WGB.AX Signals & Forecast
There are few to no technical positive signals at the moment. The WAM Global Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.23 and $2.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -3.51%. 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.
A sell signal from a double top formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should fall by -0.89% to $2.18 within 29 trading days since signal was issued (Wednesday, June 19, 2024).
Support, Risk & Stop-loss for WAM Global Limited stock
WAM Global Limited finds support from accumulated volume at $2.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0400 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.27%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WGB.AX) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect WAM Global Limited to open at $2.21, and during the day (based on 14 day Average True Range), to move between $2.17 and $2.23, which gives a possible trading interval of +/-$0.0308 (+/-1.40%) up or down from last closing price. If WAM Global Limited takes out the full calculated possible swing range there will be an estimated 2.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.19 (0.45%) than the resistance at $2.24 (1.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WAM Global Limited stock A Buy?
WAM Global Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.582 Sell Candidate Unchanged
Predicted Opening Price for WAM Global Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $2.21 ( 0.606%) | $2.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WGB.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.25 | 2.42% |
| R2 | 2.24 | 1.73% |
| R1 | 2.23 | 1.30% |
| Price | 2.20 | |
| S1 | 2.20 | -0.0885% |
| S2 | 2.19 | -0.518% |
| S3 | 2.17 | -1.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.31 | 5.00% |
| R2 | 2.27 | 3.18% |
| R1 | 2.24 | 1.82% |
| Price | 2.20 | |
| S1 | 2.19 | -0.455% |
| S2 | 2.18 | -0.91% |
| S3 | 2.17 | -1.36% |
WGB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 16, 2024 | Apr 16, 2024 | Apr 29, 2024 | $0.0600 | 2.68% |
| 2 | Oct 12, 2023 | Oct 12, 2023 | Oct 12, 2023 | $0.0575 | 2.99% |
| 3 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | $0.0575 | 3.16% |
| 4 | Oct 12, 2022 | Oct 12, 2022 | Oct 12, 2022 | $0.0550 | 3.11% |
| 5 | May 16, 2022 | May 16, 2022 | May 16, 2022 | $0.0550 | 2.74% |
FAQ
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