Atlas Lithium Corporation Stock Forecast

Red day on Tuesday for Atlas Lithium Corporation
(Updated on Jun 18, 2024)

ATLX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.94%. 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 Atlas 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 $10.66 and $14.24. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Atlas Lithium Corporation stock

Atlas Lithium Corporation finds support from accumulated volume at $9.81 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.81 between high and low, or 8.44%. For the last week the stock has had daily average volatility of 13.68%.

Atlas Lithium Corporation is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ATLX) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Atlas Lithium Corporation to open at $10.00, and during the day (based on 14 day Average True Range), to move between $8.87 and $11.13, which gives a possible trading interval of +/-$1.13 (+/-11.27%) up or down from last closing price. If Atlas Lithium Corporation takes out the full calculated possible swing range there will be an estimated 22.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.05 (0.50%) than the support at $9.81 (1.90%), 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 Atlas Lithium Corporation stock A Buy?

Atlas Lithium Corporation 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: -3.711 Sell Candidate Unchanged

Predicted Opening Price for Atlas Lithium Corporation of Thursday, June 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.