Wallbridge Mining Company Limited Stock Forecast

On Wednesday, Wallbridge Mining Company Limited stock price gained an impressive 6.13%
(Updated on May 08, 2024)

WLBMF Signals & Forecast

The Wallbridge Mining Company 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 $0.0780 and $0.0696. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 28, 2024, and so far it has risen 77.62%. 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 for Wallbridge Mining Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0725 and $0.0716. 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, Wallbridge Mining Company Limited finds support just below today's level at $0.0725. If this is broken, then the next support from accumulated volume will be at $0.0716 and $0.0650.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0067 between high and low, or 8.57%. For the last week the stock has had daily average volatility of 6.99%.

Our recommended stop-loss: $0.0822 (-3.20%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (WLBMF) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Wallbridge Mining Company Limited to open at $0.0827, and during the day (based on 14 day Average True Range), to move between $0.0785 and $0.0913, which gives a possible trading interval of +/-$0.0064 (+/-7.59%) up or down from last closing price. If Wallbridge Mining Company Limited takes out the full calculated possible swing range there will be an estimated 15.17% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0725, some $0.0124 (14.61%) from the current price of $0.0849, our system finds the risk reward attractive.

Is Wallbridge Mining Company Limited stock A Buy?

Wallbridge Mining Company Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.930 Strong Buy Candidate Upgraded

Predicted Opening Price for Wallbridge Mining Company Limited of Thursday, May 9, 2024

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