Whitefield Limited Stock Forecast

Weaker technical forecast for Whitefield Limited as stock downgraded to Hold/Accumulate.
(Updated on May 20, 2024)

WHF.AX Signals & Forecast

The Whitefield Limited 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 $5.20 and $5.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.36%. 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. Whitefield Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Thursday, September 28, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Whitefield Limited stock

Whitefield Limited finds support from accumulated volume at $5.17 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 0.385%. For the last week the stock has had daily average volatility of 0.694%.

Our recommended stop-loss: $5.02 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 62 days ago.)

Trading Expectations (WHF.AX) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Whitefield Limited to open at $5.21, and during the day (based on 14 day Average True Range), to move between $5.16 and $5.26, which gives a possible trading interval of +/-$0.0497 (+/-0.95%) up or down from last closing price. If Whitefield Limited takes out the full calculated possible swing range there will be an estimated 1.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.22 (0.19%) than the support at $5.17 (0.77%), 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 Whitefield Limited stock A Buy?

Whitefield Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.228 Hold/Accumulate Downgraded

Predicted Opening Price for Whitefield Limited of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.