Wallbridge Mining Co. Ltd. Stock Forecast
Green day on Thursday for Wallbridge Mining Co. Ltd.
(Updated on Apr 25, 2024)
The Wallbridge Mining Co. Ltd. stock price gained 4.76% on the last trading day (Thursday, 25th Apr 2024), rising from $0.105 to $0.110. During the last trading day the stock fluctuated 10.00% from a day low at $0.100 to a day high of $0.110. The price has risen in 5 of the last 10 days and is up by 18.92% over the past 2 weeks. Volume fell on the last day by -782 thousand shares and in total, 209 thousand shares were bought and sold for approximately $22.94 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 upper part of a very wide and strong rising 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 $0.112 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.33% during the next 3 months and, with a 90% probability hold a price between $0.0957 and $0.144 at the end of this 3-month period.
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WM.TO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen 0%. 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 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. The Wallbridge Mining Co. Ltd. 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 $0.104 and $0.0856. A breakdown below any of these levels will issue sell signals.
A buy signal from a double bottom formation was found on Monday, March 25, 2024 with a target of $0.0841. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Wallbridge Mining Co. Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.100 and $0.0950. 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, Wallbridge Mining Co. Ltd. finds support just below today's level at $0.100. If this is broken, then the next support from accumulated volume will be at $0.0950 and $0.0900.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0100 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 6.95%.
Our recommended stop-loss: $0.106 (-3.34%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (WM.TO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Wallbridge Mining Co. Ltd. to open at $0.107, and during the day (based on 14 day Average True Range), to move between $0.102 and $0.118, which gives a possible trading interval of +/-$0.0082 (+/-7.44%) up or down from last closing price. If Wallbridge Mining Co. Ltd. takes out the full calculated possible swing range there will be an estimated 14.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.100, some $0.0100 (9.09%) from the current price of $0.110, our system finds the risk reward attractive.
Is Wallbridge Mining Co. Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Wallbridge Mining Co. Ltd. stock to perform well in the short-term.
Current score: 2.378 Buy Candidate Unchanged
Predicted Opening Price for Wallbridge Mining Co. Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.107 ( 3.03%) | $0.110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WM.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.117 | 6.06 % | |
| R2 | 0.113 | 2.59 % | ||
| R1 | 0.110 | 0.442 % | ||
| Current price: | 0.110 | |||
| Support | S1 | 0.103 | -6.50 % | |
| S2 | 0.100 | -8.65 % | ||
| S3 | 0.0967 | -12.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.110 | |||
| Support | S1 | 0.100 | -9.09% | |
| S2 | 0.0950 | -13.64% | ||
| S3 | 0.0900 | -18.18% |
FAQ
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