American Lithium Corp. Stock Forecast
American Lithium Corp. stock price fell more than -5.53% Monday closing at $0.642
(Updated on May 06, 2024)
The American Lithium Corp. stock price fell by -5.53% on the last day (Monday, 6th May 2024) from $0.680 to $0.642. During the last trading day the stock fluctuated 6.25% from a day low at $0.640 to a day high of $0.680. The price has risen in 8 of the last 10 days and is up by 29.52% over the past 2 weeks. Volume has increased on the last day by 100 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, 309 thousand shares were bought and sold for approximately $198.28 thousand.
The stock lies the upper part of a very wide and falling trend in the short term, and this may 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 $0.677 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -21.31% during the next 3 months and, with a 90% probability hold a price between $0.367 and $0.533 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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AMLI Signals & Forecast
There are mixed signals in the stock today. The American Lithium Corp. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.645. On a fall, the stock will find some support from the short-term average at $0.619. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -5.53%. Further fall is indicated until a new bottom pivot has been found. American Lithium Corp. 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". Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for American Lithium Corp. stock
American Lithium Corp. finds support from accumulated volume at $0.630 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0400 between high and low, or 6.25%. For the last week, the stock has had daily average volatility of 6.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMLI) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect American Lithium Corp. to open at $0.654, and during the day (based on 14 day Average True Range), to move between $0.601 and $0.684, which gives a possible trading interval of +/-$0.0417 (+/-6.49%) up or down from last closing price. If American Lithium Corp. takes out the full calculated possible swing range there will be an estimated 12.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.630 (1.95%) than the resistance at $0.680 (5.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is American Lithium Corp. stock A Buy?
American Lithium Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.369 Sell Candidate Downgraded
Predicted Opening Price for American Lithium Corp. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.654 ( 1.83%) | $0.642 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMLI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.694 | 8.05 % | |
| R2 | 0.679 | 5.67 % | ||
| R1 | 0.669 | 4.21 % | ||
| Current price: | 0.642 | |||
| Support | S1 | 0.639 | -0.552 % | |
| S2 | 0.629 | -2.02 % | ||
| S3 | 0.614 | -4.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.700 | 8.97 % | |
| R2 | 0.695 | 8.19 % | ||
| R1 | 0.680 | 5.85 % | ||
| Current price | 0.642 | |||
| Support | S1 | 0.630 | -1.95% | |
| S2 | 0.590 | -8.19% | ||
| S3 | 0.496 | -22.79% |
FAQ
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