Wallbridge Mining Company Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Volatile ride for Wallbridge Mining Company Limited stock price on Friday moving between $0.0688 and $0.0782
(Updated on May 17, 2024)
The Wallbridge Mining Company Limited stock price gained 2.67% on the last trading day (Friday, 17th May 2024), rising from $0.0745 to $0.0765. During the last trading day the stock fluctuated 13.66% from a day low at $0.0688 to a day high of $0.0782. The price has been going up and down for this period, and there has been a 6.09% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 130 thousand more shares were traded than the day before. In total, 155 thousand shares were bought and sold for approximately $11.85 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 61.11% during the next 3 months and, with a 90% probability hold a price between $0.114 and $0.143 at the end of this 3-month period.
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WLBMF Signals & Forecast
The Wallbridge Mining Company 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 $0.0774. On a fall, the stock will find some support from the long-term average at approximately $0.0743. 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. Wallbridge Mining Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, May 08, 2024, and so far it has fallen -9.91%. 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).
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 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 $0.0094 between high and low, or 13.66%. For the last week, the stock has had daily average volatility of 10.39%.
Our recommended stop-loss: $0.0718 (-6.12%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (WLBMF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Wallbridge Mining Company Limited to open at $0.0745, and during the day (based on 14 day Average True Range), to move between $0.0699 and $0.0831, which gives a possible trading interval of +/-$0.0066 (+/-8.61%) 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 17.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0772 (0.92%) than the support at $0.0725 (5.22%), 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 Wallbridge Mining Company Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wallbridge Mining Company Limited stock to perform well in the short-term.
Current score: 3.697 Buy Candidate Unchanged
Predicted Opening Price for Wallbridge Mining Company Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$0.0745 ( 2.61%) | $0.0765 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WLBMF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0839 | 9.68 % | |
R2 | 0.0803 | 4.99 % | ||
R1 | 0.0781 | 2.09 % | ||
Current price: | 0.0765 | |||
Support | S1 | 0.0709 | -7.30 % | |
S2 | 0.0687 | -10.20 % | ||
S3 | 0.0651 | -14.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0813 | 6.22 % | |
R2 | 0.0800 | 4.59 % | ||
R1 | 0.0772 | 0.92 % | ||
Current price | 0.0765 | |||
Support | S1 | 0.0725 | -5.22% | |
S2 | 0.0716 | -6.39% | ||
S3 | 0.0650 | -15.02% |
FAQ
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