Warren Resources, Inc Stock Forecast

Red day on Tuesday for Warren Resources, Inc
(Updated on Sep 01, 2020)

WRES.L Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Warren Resources, Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £0.0018 and £0.0017. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 30, -1. 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).

Support, Risk & Stop-loss for Warren Resources, Inc 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.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%.

Warren Resources, Inc is oversold on RSI14 (8). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: £0 (-5.00%) (Unable to calculate.)

Trading Expectations (WRES.L) For The Upcoming Trading Day Of Wednesday 2nd

Is Warren Resources, Inc stock A Buy?

Warren Resources, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Warren Resources, Inc of Wednesday, September 2, 2020

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