West Wits Mining Limited Stock Forecast
West Wits Mining Limited stock price up more than 18.18% on Friday
(Updated on Jun 28, 2024)
The West Wits Mining Limited stock price gained 18.18% on the last trading day (Friday, 28th Jun 2024), rising from $0.0110 to $0.0130. During the last trading day the stock fluctuated 8.33% from a day low at $0.0120 to a day high of $0.0130. The price has been going up and down for this period, and there has been a 8.33% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 1 million shares were bought and sold for approximately $14.60 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -27.65% during the next 3 months and, with a 90% probability hold a price between $0.0079 and $0.0103 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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WWI.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 18.18%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The West Wits Mining Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0133. On a fall, the stock will find some support from the short-term average at $0.0126. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for West Wits Mining Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0120 and $0.0110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0.0110 may give a huge drop in the stock price.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0010 between high and low, or 8.33%. For the last week the stock has had daily average volatility of 10.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WWI.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect West Wits Mining Limited to open at $0.0127, and during the day (based on 14 day Average True Range), to move between $0.0119 and $0.0141, which gives a possible trading interval of +/-$0.0011 (+/-8.10%) up or down from last closing price. If West Wits Mining Limited takes out the full calculated possible swing range there will be an estimated 16.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0120 (7.69%) than the resistance at $0.0140 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is West Wits Mining Limited stock A Buy?
West Wits Mining Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.613 Sell Candidate Upgraded
Predicted Opening Price for West Wits Mining Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0127 ( 2.56%) | $0.0130 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WWI.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0137 | 5.13% |
| R2 | 0.0133 | 2.19% |
| R1 | 0.0130 | 0.374% |
| Price | 0.0130 | |
| S1 | 0.0123 | -5.50% |
| S2 | 0.0120 | -7.32% |
| S3 | 0.0117 | -10.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0160 | 23.08% |
| R2 | 0.0150 | 15.38% |
| R1 | 0.0140 | 7.69% |
| Price | 0.0130 | |
| S1 | 0.0120 | -7.69% |
| S2 | 0.0110 | -15.38% |
| S3 | 0 | - |
FAQ
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