Woodbois Limited Stock Forecast
High volatility in Woodbois Limited stock price on Wednesday which ended trading at £0.625
(Updated on Apr 24, 2024)
The Woodbois Limited stock price fell by -5.30% on the last day (Wednesday, 24th Apr 2024) from £0.660 to £0.625. During the last trading day the stock fluctuated 10.39% from a day low at £0.616 to a day high of £0.680. The price has fallen in 5 of the last 10 days and is down by -14.97% for this period. 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 -23 million shares and in total, 9 million shares were bought and sold for approximately £5.47 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (£0.657) are considered to be a "second chance" to get out. According to the fan-theory £0.496 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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WBI.L Signals & Forecast
There are few to no technical positive signals at the moment. The Woodbois Limited 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 £0.660 and £0.752. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -19.35%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Woodbois Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 £0.0640 between high and low, or 10.39%. For the last week, the stock has had daily average volatility of 6.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WBI.L) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Woodbois Limited to open at £0.640, and during the day (based on 14 day Average True Range), to move between £0.562 and £0.688, which gives a possible trading interval of +/-£0.0632 (+/-10.11%) up or down from last closing price. If Woodbois Limited takes out the full calculated possible swing range there will be an estimated 20.22% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ £0.660, some £0.0350 (5.60%) from the current price of £0.625, our system finds the risk reward not very attractive.
Is Woodbois Limited stock A Buy?
Woodbois Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.952 Strong Sell Candidate Downgraded
Predicted Opening Price for Woodbois Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| £0.640 ( 2.45%) | £0.625 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WBI.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.704 | 12.69 % | |
| R2 | 0.680 | 8.78 % | ||
| R1 | 0.665 | 6.37 % | ||
| Current price: | 0.625 | |||
| Support | S1 | 0.616 | -1.46 % | |
| S2 | 0.601 | -3.87 % | ||
| S3 | 0.576 | -7.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.775 | 24.00 % | |
| R2 | 0.725 | 16.00 % | ||
| R1 | 0.660 | 5.60 % | ||
| Current price | 0.625 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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