Western Copper and Gold Corp Stock Forecast
Western Copper and Gold Corp stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Western Copper and Gold Corp stock price gained 2.68% on the last trading day (Thursday, 28th Mar 2024), rising from $1.49 to $1.53. During the last trading day the stock fluctuated 2.65% from a day low at $1.51 to a day high of $1.55. The price has risen in 5 of the last 10 days and is up by 2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 93 thousand more shares were traded than the day before. In total, 175 thousand shares were bought and sold for approximately $267.92 thousand.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $1.63 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 21.54% during the next 3 months and, with a 90% probability hold a price between $1.30 and $1.98 at the end of this 3-month period.
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WRN Signals & Forecast
The Western Copper and Gold Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.51 and $1.29. A breakdown below any of these levels will issue sell signals. Western Copper and Gold Corp has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -4.38%. 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).
Support, Risk & Stop-loss for Western Copper and Gold Corp stock
Western Copper and Gold Corp finds support from accumulated volume at $1.51 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0400 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: $1.45 (-5.03%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (WRN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Western Copper and Gold Corp to open at $1.53, and during the day (based on 14 day Average True Range), to move between $1.45 and $1.61, which gives a possible trading interval of +/-$0.0819 (+/-5.35%) up or down from last closing price. If Western Copper and Gold Corp takes out the full calculated possible swing range there will be an estimated 10.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.51 (1.31%) than the resistance at $1.60 (4.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Western Copper and Gold Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Western Copper and Gold Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.312 Buy Candidate Upgraded
Predicted Opening Price for Western Copper and Gold Corp of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.53 ( 0%) | $1.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WRN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.57 | 2.61 % | |
R2 | 1.55 | 1.62 % | ||
R1 | 1.55 | 1.00 % | ||
Current price: | 1.53 | |||
Support | S1 | 1.51 | -1.00 % | |
S2 | 1.51 | -1.62 % | ||
S3 | 1.49 | -2.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 1.60 | 4.58 % | ||
Current price | 1.53 | |||
Support | S1 | 1.51 | -1.31% | |
S2 | 1.50 | -1.96% | ||
S3 | 1.42 | -7.19% |
FAQ
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