Western Copper and Gold Corp Forecast and Stock Analysis
Technical WRN stock analysis for February 21, 2019.
|Shorts||3.16% ( 2019-01-31 )|
Western Copper and Gold Corp fell by -5.78% in the last day from $0.69 to $0.65 and has now fallen 3 days in a row. The price has fallen in 8 of the last 10 days and is down by -15.41% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -132 203 shares and in total 66 220 shares bought and sold for approximately $43 043.00.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the WRN stock was $0.65. This is 5.78% less than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 4.77% from a day low at $0.65 to a day high of $0.68.
30 day high of the WRN stock price was $0.83 and low was $0.62.
90 day high was $0.83 and low was $0.35.
52 week high for the Western Copper and Gold Corp - $1.01 and low - $0.35.
Western Copper and Gold Corp lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 58.6% during the next 3 months and, with 90% probability hold a price between $0.92 and $1.37 at the end of this period.
There are few to none technical positive signals at the moment. Western Copper and Gold Corp holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $0.69 and $0.65. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Tuesday February 19, 2019, which indicates further falls 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. The very low volume increases the risk and reduces the other technical signals issued.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 23 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Western Copper and Gold Corp finds support from accumulated volume at $0.62.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.03 between high and low, or 4.77%. For the last week the stock has had a daily average volatility of 5.26%.
Western Copper and Gold Corp is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
The Western Copper and Gold Corp stock holds several negative signals and despite the positive trend we believe Western Copper and Gold Corp will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Sell Candidate.