First Lithium Minerals Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in First Lithium Minerals Corp. stock price on Tuesday which ended trading at $0.100
(Updated on Jul 02, 2024)
The First Lithium Minerals Corp. stock price gained 11.11% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.0900 to $0.100. During the last trading day the stock fluctuated 11.11% from a day low at $0.0900 to a day high of $0.100. The price has risen in 4 of the last 10 days and is up by 11.11% 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, 176 thousand more shares were traded than the day before. In total, 204 thousand shares were bought and sold for approximately $20.40 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Lithium Minerals Corp. stock with a 90% probability to be traded between $0.0720 and $0.107 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FLM.CN Signals & Forecast
Mostly positive signals in the chart today. The First Lithium Minerals Corp. 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 $0.0950 and $0.0971. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 17.65%. 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). First Lithium Minerals Corp. 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.
A sell signal from a double top formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should fall by -60.00% to $0.0400 within 12 trading days (Tuesday, May 21, 2024) since signal was issued.
Support, Risk & Stop-loss for First Lithium Minerals Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0950 and $0.0900. 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, First Lithium Minerals Corp. finds support just below today's level at $0.0950. If this is broken, then the next support from accumulated volume will be at $0.0900 and $0.0850.
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 $0.0100 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 5.62%.
Our recommended stop-loss: $0.0955 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (FLM.CN) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect First Lithium Minerals Corp. to open at $0.0967, and during the day (based on 14 day Average True Range), to move between $0.0924 and $0.108, which gives a possible trading interval of +/-$0.0076 (+/-7.64%) up or down from last closing price. If First Lithium Minerals Corp. takes out the full calculated possible swing range there will be an estimated 15.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.105 (5.00%) than the support at $0.0950 (5.00%), 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 First Lithium Minerals Corp. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for First Lithium Minerals Corp. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.380 Buy Candidate Upgraded
Predicted Opening Price for First Lithium Minerals Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.0967 ( 3.33%) | $0.100 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLM.CN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.107 | 6.67% |
| R2 | 0.103 | 2.85% |
| R1 | 0.100 | 0.487% |
| Price | 0.100 | |
| S1 | 0.0928 | -7.15% |
| S2 | 0.0905 | -9.51% |
| S3 | 0.0867 | -13.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.110 | 10.00% |
| R1 | 0.105 | 5.00% |
| Price | 0.100 | |
| S1 | 0.0950 | -5.00% |
| S2 | 0.0900 | -10.00% |
| S3 | 0.0850 | -15.00% |
FAQ
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