Workhorse Stock Forecast

Workhorse stock price down 2.18% on Thursday
(Updated on Apr 25, 2024)

WKHS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.15%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Workhorse 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 $0.161 and $0.218. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Workhorse stock

Workhorse finds support from accumulated volume at $0.152 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0094 between high and low, or 6.16%. For the last week, the stock has had daily average volatility of 6.48%.

Workhorse is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WKHS) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Workhorse Group to open at $0.157, and during the day (based on 14 day Average True Range), to move between $0.141 and $0.173, which gives a possible trading interval of +/-$0.0160 (+/-10.20%) up or down from last closing price. If Workhorse Group takes out the full calculated possible swing range there will be an estimated 20.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.152 (3.05%) than the resistance at $0.173 (9.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Workhorse Group stock A Buy?

Workhorse holds several negative signals and is within a very 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.

Current score: -3.645 Sell Candidate Unchanged

Predicted Opening Price for Workhorse Group of Friday, April 26, 2024

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