TheWorks.co.uk plc Stock Forecast

TheWorks.co.uk plc stock price down 0% on Tuesday
(Updated on May 28, 2024)

WRKS.L Signals & Forecast

There are mixed signals in the stock today. The TheWorks.co.uk plc 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 £25.32 and £25.69. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 08, 2024 and based on theory for this formation the price should go up by 7.57% to £27.00 within 2 trading days since signal was issued (Wednesday, May 29, 2024).

Support, Risk & Stop-loss for TheWorks.co.uk plc stock

TheWorks.co.uk plc finds support from accumulated volume at £25.00 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.48%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WRKS.L) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect TheWorks.co.uk plc to open at £25.10, and during the day (based on 14 day Average True Range), to move between £23.92 and £26.28, which gives a possible trading interval of +/-£1.18 (+/-4.68%) up or down from last closing price. If TheWorks.co.uk plc takes out the full calculated possible swing range there will be an estimated 9.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £25.00 (0.40%) than the resistance at £26.00 (3.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TheWorks.co.uk plc stock A Buy?

TheWorks.co.uk plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.660 Sell Candidate Unchanged

Predicted Opening Price for TheWorks.co.uk plc of Wednesday, May 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.