Al Waha Capital PJSC Stock Forecast
Al Waha Capital PJSC stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Dec 05, 2019)
The Al Waha Capital PJSC stock price fell by -1.00% on the last day (Thursday, 5th Dec 2019) from $1.00 to $0.99. During the last trading day the stock fluctuated 1.01% from a day low at $0.99 to a day high of $1.00. The price has been going up and down for this period, and there has been a 1.23% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 284 thousand shares were bought and sold for approximately $281.30 thousand.
The stock lies the upper part of a falling 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 $1.00 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.15% during the next 3 months and, with a 90% probability hold a price between $0.87 and $0.94 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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WAHA.UH Signals & Forecast
The Al Waha Capital PJSC stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.98 and $0.99. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, December 04, 2019, and so far it has fallen -1.00%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Al Waha Capital PJSC stock
Al Waha Capital PJSC finds support from accumulated volume at $0.99 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 $0.0100 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 0.652%
Our recommended stop-loss: $0.95 (-4.52%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (WAHA.UH) For The Upcoming Trading Day Of Sunday 8th
For the upcoming trading day on Sunday, 8th we expect Al Waha Capital PJSC to open at $0.99, and during the day (based on 14 day Average True Range), to move between $0.97 and $1.01, which gives a possible trading interval of +/-$0.0216 (+/-2.18%) up or down from last closing price. If Al Waha Capital PJSC takes out the full calculated possible swing range there will be an estimated 4.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.99 (0.40%) than the resistance at $1.00 (1.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Al Waha Capital PJSC stock A Buy?
Al Waha Capital PJSC 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: -0.929 Hold/Accumulate Downgraded
Predicted Opening Price for Al Waha Capital PJSC of Sunday, December 8, 2019
| Fair opening price December 8, 2019 | Current price |
|---|---|
| $0.99 ( 0.337%) | $0.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAHA.UH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 1.35 % | |
| R2 | 1.00 | 0.96 % | ||
| R1 | 1.00 | 0.723 % | ||
| Current price: | 0.99 | |||
| Support | S1 | 0.99 | -0.0492 % | |
| S2 | 0.99 | -0.288 % | ||
| S3 | 0.98 | -0.673 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.04 | 5.05 % | |
| R2 | 1.02 | 3.03 % | ||
| R1 | 1.00 | 1.01 % | ||
| Current price | 0.99 | |||
| Support | S1 | 0.99 | -0.404% | |
| S2 | 0.98 | -1.01% | ||
| S3 | 0.94 | -5.05% |
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