WAM Microcap Limited Stock Forecast
WAM Microcap Limited stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 21, 2024)
The WAM Microcap Limited stock price gained 0.355% on the last trading day (Tuesday, 21st May 2024), rising from $1.41 to $1.42. During the last trading day the stock fluctuated 1.06% from a day low at $1.41 to a day high of $1.43. The price has risen in 6 of the last 10 days but is still down by -2.75% for this period. Volume fell on the last day by -102 thousand shares and in total, 300 thousand shares were bought and sold for approximately $425.19 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 falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.40 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.72% during the next 3 months and, with a 90% probability hold a price between $1.37 and $1.47 at the end of this 3-month period.
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WMI.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 0.712%. 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 WAM Microcap 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 $1.44 and $1.47. 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 also not.
Support, Risk & Stop-loss for WAM Microcap Limited stock
WAM Microcap Limited finds support from accumulated volume at $1.41 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0150 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 0.98%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WMI.AX) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect WAM Microcap Limited to open at $1.42, and during the day (based on 14 day Average True Range), to move between $1.40 and $1.43, which gives a possible trading interval of +/-$0.0184 (+/-1.30%) up or down from last closing price. If WAM Microcap Limited takes out the full calculated possible swing range there will be an estimated 2.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.41 (0.35%) than the resistance at $1.45 (2.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WAM Microcap Limited stock A Buy?
WAM Microcap 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: -1.193 Sell Candidate Downgraded
Predicted Opening Price for WAM Microcap Limited of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| $1.42 ( 0.118%) | $1.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WMI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.43 | 1.18 % | |
| R2 | 1.43 | 0.773 % | ||
| R1 | 1.42 | 0.523 % | ||
| Current price: | 1.42 | |||
| Support | S1 | 1.41 | -0.287 % | |
| S2 | 1.41 | -0.537 % | ||
| S3 | 1.40 | -0.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.50 | 6.01 % | |
| R2 | 1.47 | 3.53 % | ||
| R1 | 1.45 | 2.47 % | ||
| Current price | 1.42 | |||
| Support | S1 | 1.41 | -0.353% | |
| S2 | 1.41 | -0.707% | ||
| S3 | 0 | . |
WMI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 30, 2024 | $0.0525 | 3.70% |
| 2 | Oct 03, 2023 | Oct 03, 2023 | Oct 03, 2023 | $0.0525 | 3.62% |
| 3 | Apr 12, 2023 | Apr 12, 2023 | Apr 12, 2023 | $0.0525 | 3.24% |
| 4 | Feb 20, 2018 | Apr 12, 2018 | Apr 27, 2018 | $0.0286 | 2.06% |
FAQ
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