WAM Leaders Limited Stock Forecast
Green day on Friday for WAM Leaders Limited stock after gaining 1.44%
(Updated on May 17, 2024)
The WAM Leaders Limited stock price gained 1.44% on the last trading day (Friday, 17th May 2024), rising from $1.39 to $1.41. During the last trading day the stock fluctuated 1.44% from a day low at $1.39 to a day high of $1.41. The price has fallen in 5 of the last 10 days and is down by -0.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $4.35 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect WAM Leaders Limited stock with a 90% probability to be traded between $1.39 and $1.43 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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WLE.AX Signals & Forecast
The WAM Leaders Limited 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 $1.39 and $1.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 1.81%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
A buy signal from a double bottom formation was found on Tuesday, March 26, 2024 and based on theory for this formation the price should go up by 1.17% to $1.43 within 7 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for WAM Leaders Limited stock
WAM Leaders Limited finds support from accumulated volume at $1.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: $1.33 (-5.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (WLE.AX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect WAM Leaders Limited to open at $1.40, and during the day (based on 14 day Average True Range), to move between $1.39 and $1.43, which gives a possible trading interval of +/-$0.0152 (+/-1.08%) up or down from last closing price. If WAM Leaders Limited takes out the full calculated possible swing range there will be an estimated 2.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.42 (0.35%) than the support at $1.40 (0.71%), 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 WAM Leaders Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for WAM Leaders Limited stock to perform well in the short-term period.
Current score: 1.081 Buy Candidate Unchanged
Predicted Opening Price for WAM Leaders Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $1.40 ( 0.473%) | $1.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WLE.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.42 | 0.95 % | |
| R2 | 1.42 | 0.404 % | ||
| R1 | 1.41 | 0.0690 % | ||
| Current price: | 1.41 | |||
| Support | S1 | 1.40 | -1.01 % | |
| S2 | 1.39 | -1.35 % | ||
| S3 | 1.38 | -1.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 1.42 | 0.709 % | ||
| R1 | 1.42 | 0.355 % | ||
| Current price | 1.41 | |||
| Support | S1 | 1.40 | -0.709% | |
| S2 | 1.39 | -1.42% | ||
| S3 | 1.39 | -1.77% |
WLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 31, 2024 | $0.0460 | 3.26% |
| 2 | Oct 17, 2023 | Oct 17, 2023 | Oct 17, 2023 | $0.0450 | 3.19% |
| 3 | May 19, 2023 | May 19, 2023 | May 19, 2023 | $0.0450 | 3.06% |
| 4 | Nov 17, 2022 | Nov 17, 2022 | Nov 17, 2022 | $0.0400 | 2.67% |
| 5 | Apr 13, 2022 | Apr 13, 2022 | Apr 13, 2022 | $0.0400 | 2.61% |
FAQ
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