Arizona Lithium Limited Stock Forecast

Arizona Lithium Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)

AZL.AX Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 9.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Arizona Lithium Limited 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 $0.0234. On a fall, the stock will find some support from the short-term average at $0.0224. 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.

Support, Risk & Stop-loss for Arizona Lithium Limited stock

Arizona Lithium Limited finds support from accumulated volume at $0.0220 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0020 between high and low, or 9.09%. For the last week, the stock has had daily average volatility of 7.45%.

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

Trading Expectations (AZL.AX) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Arizona Lithium Limited to open at $0.0230, and during the day (based on 14 day Average True Range), to move between $0.0214 and $0.0246, which gives a possible trading interval of +/-$0.0016 (+/-6.98%) up or down from last closing price. If Arizona Lithium Limited takes out the full calculated possible swing range there will be an estimated 13.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0220 (4.35%) than the resistance at $0.0250 (8.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Arizona Lithium Limited stock A Buy?

Arizona Lithium Limited 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 Hold/Accumulate to a Sell candidate.

Current score: -1.075 Sell Candidate Downgraded

Predicted Opening Price for Arizona Lithium Limited of Monday, May 20, 2024

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