Wearable Devices Ltd. Stock Forecast
Stronger technical forecast for Wearable Devices Ltd. stock price after Monday trading.
(Updated on May 13, 2024)
The Wearable Devices Ltd. stock price gained 1.07% on the last trading day (Monday, 13th May 2024), rising from $0.326 to $0.330. During the last trading day the stock fluctuated 7.77% from a day low at $0.318 to a day high of $0.343. The price has been going up and down for this period, and there has been a -10.11% loss for the last 2 weeks. Volume fell on the last day by -136 thousand shares and in total, 145 thousand shares were bought and sold for approximately $47.88 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 stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.325 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.74% during the next 3 months and, with a 90% probability hold a price between $0.280 and $0.521 at the end of this 3-month period.
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WLDS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 1.07%. 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. The Wearable Devices Ltd. 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 $0.339 and $0.458. A break-up above any of these levels will issue buy signals. 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 Wearable Devices Ltd. stock
Wearable Devices Ltd. finds support from accumulated volume at $0.326 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0247 between high and low, or 7.77%. For the last week the stock has had daily average volatility of 7.66%.
Wearable Devices Ltd. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WLDS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Wearable Devices Ltd. to open at $0.330, and during the day (based on 14 day Average True Range), to move between $0.291 and $0.369, which gives a possible trading interval of +/-$0.0392 (+/-11.88%) up or down from last closing price. If Wearable Devices Ltd. takes out the full calculated possible swing range there will be an estimated 23.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.331 (0.21%) than the support at $0.326 (1.06%), 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 Wearable Devices Ltd. stock A Buy?
Wearable Devices Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.114 Sell Candidate Upgraded
Predicted Opening Price for Wearable Devices Ltd. of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| $0.330 ( 0.0505%) | $0.330 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WLDS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.355 | 7.54 % | |
| R2 | 0.345 | 4.68 % | ||
| R1 | 0.340 | 2.91 % | ||
| Current price: | 0.330 | |||
| Support | S1 | 0.321 | -2.81 % | |
| S2 | 0.315 | -4.58 % | ||
| S3 | 0.305 | -7.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.368 | 11.55 % | |
| R2 | 0.340 | 3.00 % | ||
| R1 | 0.331 | 0.212 % | ||
| Current price | 0.330 | |||
| Support | S1 | 0.326 | -1.06% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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