Westwater Resources, Inc. Forecast and Stock Analysis
Technical WWR stock analysis for April 25, 2019.
Westwater Resources, Inc. fell by -12.86% in the last day from $7.00 to $6.10 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 3481.91% over the past 2 weeks. Volume has increased in the last day by 72 390 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 208 402 shares bought and sold for approximately $1.27 million.
Close price at the end of the last trading day (Thursday, 25th Apr 2019) of the WWR stock was $6.10. This is 12.86% less than the trading day before Wednesday, 24th Apr 2019.
During day the stock fluctuated 20.71% from a day low at $5.36 to a day high of $6.47.
30 day high of the WWR stock price was $9.45 and low was $0.13.
90 day high was $9.45 and low was $0.13.
52 week high for the Westwater Resources, Inc. - $9.45 and low - $0.13.
Westwater Resources, Inc. lies in the upper part of a very wide and strong rising trend in the short term, and this will 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 $7.21 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 33.76% during the next 3 months and, with 90% probability hold a price between $0.37 and $9.64 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Tuesday April 23, 2019, which indicates further falls until a new bottom pivot has been found. Westwater Resources, Inc. gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's". Westwater Resources, Inc. holds buy signals from both short- and long-term moving averages. In addition, 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 $3.00 and $0.72. A break down below any of these levels will issue sell signals.
Relative Strength Index (RSI)
RSI14 is 87 and the stock is extremely overbought on RSI14, so further reactions should be expected. Some stocks may have a long and hard correction after reaching so high an RSI, but not in all cases. However, the short-term risk has increased drastically and larger movements in the next couple of days can be expected.
Support & Resistance
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 a 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 $1.11 between high and low, or 20.71%. For the last week, the stock has had a daily average volatility of 25.55%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $5.84 (-4.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
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Evaluation: Buy Candidate
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 this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.
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|WWR $6.10 ($-0.90 -12.86%)|
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