American Lithium Minerals Inc Stock Forecast
High volatility in American Lithium Minerals Inc stock price on Wednesday which ended trading at $0.0251
(Updated on May 01, 2024)
The American Lithium Minerals Inc stock price gained 1.66% on the last trading day (Wednesday, 1st May 2024), rising from $0.0247 to $0.0251. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 41.69% from a day low at $0.0244 to a day high of $0.0346. The price has risen in 5 of the last 10 days and is up by 15.67% 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, 51 thousand more shares were traded than the day before. In total, 52 thousand shares were bought and sold for approximately $1.31 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 $0.0258 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 -35.66% during the next 3 months and, with a 90% probability hold a price between $0.0102 and $0.0166 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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AMLM Signals & Forecast
The American Lithium Minerals Inc 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 $0.0226 and $0.0237. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). American Lithium Minerals Inc 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. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -6.34%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for American Lithium Minerals Inc stock
American Lithium Minerals Inc finds support from accumulated volume at $0.0246 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 $0.0102 between high and low, or 41.69%. For the last week, the stock has had daily average volatility of 10.32%.
Our recommended stop-loss: $0.0239 (-4.67%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (AMLM) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect American Lithium Minerals Inc to open at $0.0280, and during the day (based on 14 day Average True Range), to move between $0.0214 and $0.0288, which gives a possible trading interval of +/-$0.0037 (+/-14.90%) up or down from last closing price. If American Lithium Minerals Inc takes out the full calculated possible swing range there will be an estimated 29.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0246 (2.15%) than the resistance at $0.0267 (6.37%), 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 Minerals Inc stock A Buy?
American Lithium Minerals Inc 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. 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 Hold/Accumulate candidate.
Current score: 0.980 Hold/Accumulate Downgraded
Predicted Opening Price for American Lithium Minerals Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$0.0280 ( 11.71%) | $0.0251 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMLM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0382 | 52.27 % | |
R2 | 0.0343 | 36.78 % | ||
R1 | 0.0319 | 27.21 % | ||
Current price: | 0.0251 | |||
Support | S1 | 0.0242 | -3.78 % | |
S2 | 0.0217 | -13.35 % | ||
S3 | 0.0179 | -28.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0301 | 19.88 % | |
R2 | 0.0281 | 11.75 % | ||
R1 | 0.0267 | 6.37 % | ||
Current price | 0.0251 | |||
Support | S1 | 0.0246 | -2.15% | |
S2 | 0.0235 | -6.37% | ||
S3 | 0.0210 | -16.33% |
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