High volatility in Wearable Health Solutions, Inc. stock price on Friday which ended trading at $0.0190
(Updated on Aug 05, 2022)
Buy candidate since 2022-08-05 PDF
The Wearable Health Solutions, Inc. stock price gained 65.22% on the last trading day (Friday, 5th Aug 2022), rising from $0.0115 to $0.0190. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 73.91% from a day low at $0.0115 to a day high of $0.0200. The price has fallen in 7 of the last 10 days, but is still up by 26.67% over the past 2 weeks. Volume fell on the last day by -838 thousand shares and in total, 3 million shares were bought and sold for approximately $65.89 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.0173, a level that may pose a second chance to hit a runner. According to fan-theory $0.0289 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Signals & Forecast
The Wearable Health Solutions, Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.0122 and $0.0148. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, August 03, 2022, and so far it has risen 90.00%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0085 between high and low, or 73.91%. For the last week the stock has had a daily average volatility of 24.78%.
Our recommended stop-loss: $0.0184 (-3.30%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations For The Upcoming Trading Day Of Monday 8th
For the upcoming trading day on Monday 8th we expect Wearable Health Solutions, Inc. to open at $0.0168, and during day (based on 14 day Average True Range), to move between $0.0163 and $0.0217, which gives a possible trading interval of +/-$0.0027 (+/-13.98%) up or down from last closing price. If Wearable Health Solutions, Inc. takes out the full calculated possible swing range there will be an estimated 27.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0186 (2.37%) than the resistance at $0.0196 (3.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wearable Health Solutions, Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.426Buy Candidate Upgraded
Predicted Opening Price for Wearable Health Solutions, Inc. of Monday, August 8, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 8, 2022||Current price|
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