Alpha Lithium Corporation Stock Forecast
On Friday, Alpha Lithium Corporation stock price gained an impressive 5.96%
(Updated on Apr 26, 2024)
The Alpha Lithium Corporation stock price gained 5.96% on the last trading day (Friday, 26th Apr 2024), rising from $0.250 to $0.265. During the last trading day the stock fluctuated 1.88% from a day low at $0.260 to a day high of $0.265. The price has risen in 4 of the last 10 days and is up by 7.9% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $3.07 thousand.
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 -2.09% during the next 3 months and, with a 90% probability hold a price between $0.204 and $0.287 at the end of this 3-month period.
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ALLIF Signals & Forecast
The Alpha Lithium Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.248 and $0.248. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 15.17%. Further rise is indicated until a new top pivot has been found. Alpha Lithium Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, April 11, 2024 and based on theory for this formation the price should go up by 32.13% to $0.350 within 6 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Alpha Lithium Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.250 and $0.240. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Alpha Lithium Corporation finds support just below today's level at $0.250. If this is broken, then the next support from accumulated volume will be at $0.240 and $0.210.
This stock may move much during the 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 $0.0049 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 0.377%.
Our recommended stop-loss: $0.254 (-4.06%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ALLIF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Alpha Lithium Corporation to open at $0.263, and during the day (based on 14 day Average True Range), to move between $0.237 and $0.293, which gives a possible trading interval of +/-$0.0277 (+/-10.45%) up or down from last closing price. If Alpha Lithium Corporation takes out the full calculated possible swing range there will be an estimated 20.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.268 (1.30%) than the support at $0.250 (5.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Alpha Lithium Corporation stock A Buy?
Alpha Lithium Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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 Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.263 ( 0.617%) | $0.265 |
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 | 0.268 | 1.23 % | |
| R2 | 0.266 | 0.527 % | ||
| R1 | 0.265 | 0.0900 % | ||
| Current price: | 0.265 | |||
| Support | S1 | 0.261 | -1.32 % | |
| S2 | 0.260 | -1.76 % | ||
| S3 | 0.258 | -2.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.280 | 5.70 % | |
| R2 | 0.271 | 2.30 % | ||
| R1 | 0.268 | 1.30 % | ||
| Current price | 0.265 | |||
| Support | S1 | 0.250 | -5.62% | |
| S2 | 0.240 | -9.40% | ||
| S3 | 0.210 | -20.72% |
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