WAM Leaders Limited Stock Forecast
Weaker technical forecast for WAM Leaders Limited as stock downgraded to Sell Candidate.
(Updated on May 31, 2024)
The WAM Leaders Limited stock price fell by -0.763% on the last day (Friday, 31st May 2024) from $1.31 to $1.30. During the last trading day the stock fluctuated 1.54% from a day low at $1.30 to a day high of $1.32. The price has fallen in 7 of the last 10 days and is down by -7.8% for this period. Volume has increased on the last day by 54 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $1.70 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.33) are considered to be a "second chance" to get out. According to the fan-theory $1.26 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WLE.AX Signals & Forecast
There are few to no technical positive signals at the moment. The WAM Leaders Limited 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 $1.32 and $1.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -7.80%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for WAM Leaders Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0200 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 1.30%.
WAM Leaders Limited is oversold on RSI14 (21). 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 (WLE.AX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect WAM Leaders Limited to open at $1.30, and during the day (based on 14 day Average True Range), to move between $1.28 and $1.32, which gives a possible trading interval of +/-$0.0174 (+/-1.34%) up or down from last closing price. If WAM Leaders Limited takes out the full calculated possible swing range there will be an estimated 2.68% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.39, some $0.0850 (6.54%) from the current price of $1.30, our system finds the risk reward not very attractive.
Is WAM Leaders Limited stock A Buy?
WAM Leaders Limited holds several negative signals and is within a 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.886 Sell Candidate Downgraded
Predicted Opening Price for WAM Leaders Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $1.30 ( 0.256%) | $1.30 |
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 | 1.32 | 1.79 % | |
| R2 | 1.32 | 1.21 % | ||
| R1 | 1.31 | 0.84 % | ||
| Current price: | 1.30 | |||
| Support | S1 | 1.30 | -0.331 % | |
| S2 | 1.29 | -0.694 % | ||
| S3 | 1.28 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.40 | 7.69 % | |
| R2 | 1.39 | 6.92 % | ||
| R1 | 1.39 | 6.54 % | ||
| Current price | 1.30 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
WLE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 31, 2024 | $0.0460 | 3.54% |
| 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
Click here for our free guide on how to buy WAM Leaders Limited Stock.
