Woolworths Holdings Limited Stock Forecast
Evaluation of Woolworths Holdings Limited stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Woolworths Holdings Limited stock price fell by -0.545% on the last day (Tuesday, 25th Jun 2024) from $6,052.00 to $6,019.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.36% from a day low at $5,980.00 to a day high of $6,121.00. The price has risen in 6 of the last 10 days and is up by 11.46% over the past 2 weeks. 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 -1 million shares and in total, 2 million shares were bought and sold for approximately $13.24 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Woolworths Holdings Limited stock with a 90% probability to be traded between $5,358.64 and $6,303.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WHL.JO Signals & Forecast
The Woolworths Holdings Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6,110.71. On a fall, the stock will find some support from the long-term average at approximately $5,914.46. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -5.17%. Further fall is indicated until a new bottom pivot has been found. 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 Woolworths Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $5,580.00 and $5,570.00. 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, Woolworths Holdings Limited finds support just below today's level at $5,580.00. If this is broken, then the next support from accumulated volume will be at $5,570.00 and $5,445.00.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $141.00 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WHL.JO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Woolworths Holdings Limited to open at $6,040.00, and during the day (based on 14 day Average True Range), to move between $5,809.94 and $6,228.06, which gives a possible trading interval of +/-$209.06 (+/-3.47%) up or down from last closing price. If Woolworths Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6,062.00 (0.71%) than the support at $5,580.00 (7.29%), 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 Woolworths Holdings Limited stock A Buy?
Woolworths Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.428 Sell Candidate Downgraded
Predicted Opening Price for Woolworths Holdings Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$6,040.00 ( 0.349%) | $6,019.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WHL.JO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6,181.00 | 2.69% |
R2 | 6,127.14 | 1.80% |
R1 | 6,093.86 | 1.24% |
Price | 6,019.00 | |
S1 | 5,986.14 | -0.546% |
S2 | 5,952.86 | -1.10% |
S3 | 5,899.00 | -1.99% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6,256.00 | 3.94% |
R2 | 6,136.00 | 1.94% |
R1 | 6,062.00 | 0.714% |
Price | 6,019.00 | |
S1 | 5,580.00 | -7.29% |
S2 | 5,570.00 | -7.46% |
S3 | 5,445.00 | -9.54% |
WHL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Mar 19, 2024 | $148.00 | 2.46% |
2 | Sep 20, 2023 | Sep 20, 2023 | Sep 20, 2023 | $154.50 | 2.18% |
3 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | $158.50 | 2.46% |
4 | Sep 14, 2022 | Sep 14, 2022 | Sep 14, 2022 | $149.00 | 2.34% |
5 | Mar 23, 2022 | Mar 23, 2022 | Mar 23, 2022 | $80.50 | 1.45% |
FAQ
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