Lake Resources N.L. Stock Forecast
Volatile ride for Lake Resources N.L. stock price on Wednesday moving between $0.0430 and $0.0485
(Updated on Mar 27, 2024)
The Lake Resources N.L. stock price fell by -9.22% on the last day (Wednesday, 27th Mar 2024) from $0.0477 to $0.0433. During the last trading day the stock fluctuated 12.67% from a day low at $0.0430 to a day high of $0.0485. The price has fallen in 8 of the last 10 days and is down by -35.57% for this period. Volume has increased on the last day by 802 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 945 thousand shares were bought and sold for approximately $40.92 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0400 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -25.03% during the next 3 months and, with a 90% probability hold a price between $0.0300 and $0.0596 at the end of this 3-month period.
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LLKKF Signals & Forecast
There are few to no technical positive signals at the moment. The Lake Resources N.L. 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 $0.0460 and $0.0652. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -50.40%. 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). Lake Resources N.L. 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-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lake Resources N.L. 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.
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 $0.0055 between high and low, or 12.67%. For the last week, the stock has had daily average volatility of 12.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LLKKF) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Lake Resources N.L. to open at $0.0449, and during the day (based on 14 day Average True Range), to move between $0.0349 and $0.0517, which gives a possible trading interval of +/-$0.0084 (+/-19.34%) up or down from last closing price. If Lake Resources N.L. takes out the full calculated possible swing range there will be an estimated 38.69% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.0456, some $0.0023 (5.36%) from the current price of $0.0433, our system finds the risk reward not very attractive.
Is Lake Resources N.L. stock A Buy?
Lake Resources N.L. 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: -7.709 Strong Sell Candidate Unchanged
Predicted Opening Price for Lake Resources N.L. of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.0449 ( 3.73%) | $0.0433 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LLKKF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0504 | 16.32 % | |
R2 | 0.0483 | 11.51 % | ||
R1 | 0.0470 | 8.54 % | ||
Current price: | 0.0433 | |||
Support | S1 | 0.0428 | -1.07 % | |
S2 | 0.0415 | -4.04 % | ||
S3 | 0.0395 | -8.85 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0487 | 12.47 % | |
R2 | 0.0460 | 6.12 % | ||
R1 | 0.0456 | 5.36 % | ||
Current price | 0.0433 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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