Whitehaven Coal Limited Stock Forecast

Red day on Tuesday for Whitehaven Coal Limited stock after losing 1.36%
(Updated on Jun 25, 2024)

WHITF Signals & Forecast

There are few to no technical positive signals at the moment. The Whitehaven Coal Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.11 and $5.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -7.13%. 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. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Whitehaven Coal Limited stock

Whitehaven Coal Limited finds support from accumulated volume at $5.02 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 controlled movements and therefore the general risk is considered 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.0777%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WHITF) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Whitehaven Coal Limited to open at $5.08, and during the day (based on 14 day Average True Range), to move between $4.98 and $5.18, which gives a possible trading interval of +/-$0.101 (+/-1.99%) up or down from last closing price. If Whitehaven Coal Limited takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $5.12 (0.79%) than the support at $5.02 (1.18%), 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 Whitehaven Coal Limited stock A Buy?

The Whitehaven Coal Limited stock holds several negative signals and despite the positive trend, we believe Whitehaven Coal Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.680 Sell Candidate Unchanged

Predicted Opening Price for Whitehaven Coal Limited of Wednesday, June 26, 2024

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