Alpha Lithium Corporation Stock Forecast
Red day on Wednesday for Alpha Lithium Corporation
(Updated on Mar 27, 2024)
The Alpha Lithium Corporation stock price fell by -4.00% on the last day (Wednesday, 27th Mar 2024) from $0.250 to $0.240. During the last trading day the stock fluctuated 0% from a day low at $0.240 to a day high of $0.240. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 100 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, 100 shares were bought and sold for approximately $24.00 .
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.58% during the next 3 months and, with a 90% probability hold a price between $0.170 and $0.223 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ALLIF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 2.56%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Alpha Lithium Corporation 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 $0.246 and $0.249. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Alpha Lithium Corporation 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 Alpha Lithium Corporation stock
Alpha Lithium Corporation finds support from accumulated volume at $0.237 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0 (0%) between high and low. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: $0.229 (-4.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (ALLIF) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Alpha Lithium Corporation to open at $0.240, and during the day (based on 14 day Average True Range), to move between $0.221 and $0.259, which gives a possible trading interval of +/-$0.0186 (+/-7.76%) up or down from last closing price. If Alpha Lithium Corporation takes out the full calculated possible swing range there will be an estimated 15.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.237 (1.25%) than the resistance at $0.250 (4.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Alpha Lithium Corporation stock A Buy?
Alpha Lithium Corporation 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 Alpha Lithium Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$0.240 ( 0%) | $0.240 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLIF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.240 | . | |
R2 | 0.240 | . | ||
R1 | 0.240 | . | ||
Current price: | 0.240 | |||
Support | S1 | 0.240 | . | |
S2 | 0.240 | . | ||
S3 | 0.240 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.275 | 14.58 % | |
R2 | 0.250 | 4.21 % | ||
R1 | 0.250 | 4.17 % | ||
Current price | 0.240 | |||
Support | S1 | 0.237 | -1.25% | |
S2 | 0.234 | -2.50% | ||
S3 | 0 | . |
FAQ
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