Westgold Resources Limited Stock Forecast
Red day on Tuesday for Westgold Resources Limited stock after losing 0.92%
(Updated on May 28, 2024)
The Westgold Resources Limited stock price fell by -0.92% on the last day (Tuesday, 28th May 2024) from $2.17 to $2.15. During the last trading day the stock fluctuated 2.34% from a day low at $2.14 to a day high of $2.19. The price has fallen in 5 of the last 10 days and is down by -0.46% 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 -839 thousand shares and in total, 1 million shares were bought and sold for approximately $2.94 million.
The stock lies in the middle of a very wide and 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 -8.73% during the next 3 months and, with a 90% probability hold a price between $1.79 and $2.38 at the end of this 3-month period.
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WGX.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 2.38%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Westgold Resources 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 $2.19. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Westgold Resources Limited stock
Westgold Resources Limited finds support from accumulated volume at $2.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0500 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 3.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WGX.AX) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Westgold Resources Limited to open at $2.16, and during the day (based on 14 day Average True Range), to move between $2.06 and $2.24, which gives a possible trading interval of +/-$0.0889 (+/-4.13%) up or down from last closing price. If Westgold Resources Limited takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.13 (0.93%) than the resistance at $2.27 (5.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Westgold Resources Limited stock A Buy?
Westgold Resources Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.743 Sell Candidate Unchanged
Predicted Opening Price for Westgold Resources Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $2.16 ( 0.465%) | $2.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WGX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.21 | 2.79 % | |
| R2 | 2.19 | 1.90 % | ||
| R1 | 2.18 | 1.35 % | ||
| Current price: | 2.15 | |||
| Support | S1 | 2.14 | -0.423 % | |
| S2 | 2.13 | -0.97 % | ||
| S3 | 2.11 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.32 | 7.91 % | |
| R2 | 2.31 | 7.44 % | ||
| R1 | 2.27 | 5.58 % | ||
| Current price | 2.15 | |||
| Support | S1 | 2.13 | -0.93% | |
| S2 | 2.12 | -1.40% | ||
| S3 | 2.10 | -2.33% |
WGX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 12, 2024 | $0.0100 | 0.472% |
| 2 | Sep 30, 2021 | Sep 30, 2021 | Sep 30, 2021 | $0.0200 | 1.23% |
FAQ
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