Lithium South Development Corporation Stock Forecast
Lithium South Development Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 14, 2024)
The Lithium South Development Corporation stock price gained 0.94% on the last trading day (Friday, 14th Jun 2024), rising from $0.213 to $0.215. During the last trading day the stock fluctuated 0% from a day low at $0.215 to a day high of $0.215. The price has fallen in 4 of the last 10 days and is down by -6.93% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $3.23 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 $0.225 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 -54.69% during the next 3 months and, with a 90% probability hold a price between $0.0697 and $0.102 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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LISMF Signals & Forecast
There are mixed signals in the stock today. The Lithium South Development 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 $0.222 and $0.261. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 2.38%. 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). Lithium South Development Corporation 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.
Support, Risk & Stop-loss for Lithium South Development Corporation stock
Lithium South Development Corporation finds support from accumulated volume at $0.215 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
Our recommended stop-loss: $0.206 (-4.24%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 60 days ago.)
Trading Expectations (LISMF) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Lithium South Development Corporation to open at $0.215, and during the day (based on 14 day Average True Range), to move between $0.199 and $0.231, which gives a possible trading interval of +/-$0.0164 (+/-7.62%) up or down from last closing price. If Lithium South Development Corporation takes out the full calculated possible swing range there will be an estimated 15.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.215 (0.05%) than the resistance at $0.230 (6.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lithium South Development Corporation stock A Buy?
Lithium South Development Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Lithium South Development Corporation of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.215 ( 0%) | $0.215 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LISMF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.215 | - |
| R2 | 0.215 | - |
| R1 | 0.215 | - |
| Price | 0.215 | |
| S1 | 0.215 | - |
| S2 | 0.215 | - |
| S3 | 0.215 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.258 | 20.12% |
| R2 | 0.237 | 10.25% |
| R1 | 0.230 | 6.98% |
| Price | 0.215 | |
| S1 | 0.215 | -0.0465% |
| S2 | 0.213 | -0.93% |
| S3 | 0.210 | -2.33% |
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