Wt Financial Group Limited Stock Forecast

Wt Financial Group Limited stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jul 04, 2024)

WTL.AX Signals & Forecast

The Wt Financial Group Limited 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 $0.0777 and $0.0725. 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 30.65%. Further rise is indicated until a new top pivot has been found. Wt Financial Group Limited 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. The very low volume increases the risk and reduces the other technical signals issued. 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).

Support, Risk & Stop-loss for Wt Financial Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $0.0700 and $0.0640. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Wt Financial Group Limited finds support just below today's level at $0.0700. If this is broken, then the next support from accumulated volume will be at $0.0640 and $0.0610.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.256%.

Our recommended stop-loss: $0.0782 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (WTL.AX) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Wt Financial Group Limited to open at $0.0810, and during the day (based on 14 day Average True Range), to move between $0.0791 and $0.0829, which gives a possible trading interval of +/-$0.0019 (+/-2.33%) up or down from last closing price. If Wt Financial Group Limited takes out the full calculated possible swing range there will be an estimated 4.67% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $0.0700, some $0.0110 (13.58%) from the current price of $0.0810, our system finds the risk reward attractive.

Is Wt Financial Group Limited stock A Buy?

Wt Financial Group Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Wt Financial Group Limited of Friday, July 5, 2024

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