Green day on Thursday for Lake Resources N.L.
(Updated on Dec 01, 2022)
The Lake Resources N.L. stock price gained 1.38% on the last trading day (Thursday, 1st Dec 2022), rising from $0.668 to $0.677. 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 2.24% from a day low at $0.670 to a day high of $0.685. The price has risen in 5 of the last 10 days but is still down by -4.68% for this period. Volume fell on the last day by -42 thousand shares and in total, 55 thousand shares were bought and sold for approximately $37.45 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.20% during the next 3 months and, with a 90% probability hold a price between $0.527 and $0.82 at the end of this 3-month period.
LLKKF Signals & Forecast
There are mixed signals in the stock today. The Lake Resources N.L. 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 $0.679. On a fall, the stock will find some support from the short-term average at $0.664. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Monday, November 28, 2022, and so far it has risen 8.79%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Lake Resources N.L. stock
Lake Resources N.L. finds support from accumulated volume at $0.662 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0150 between high and low, or 2.24%. For the last week the stock has had daily average volatility of 5.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LLKKF) For The Upcoming Trading Day Of Friday 2nd
For the upcoming trading day on Friday, 2nd we expect Lake Resources N.L. to open at $0.677, and during the day (based on 14 day Average True Range), to move between $0.635 and $0.718, which gives a possible trading interval of +/-$0.0414 (+/-6.12%) up or down from last closing price. If Lake Resources N.L. takes out the full calculated possible swing range there will be an estimated 12.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.662 (2.10%) than the resistance at $0.698 (3.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lake Resources N.L. stock A Buy?
Lake Resources N.L. 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.
Current score: -1.828 Open Broker AccountSell Candidate Unchanged
Predicted Opening Price for Lake Resources N.L. of Friday, December 2, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 2, 2022||Current price|
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About Lake Resources N.L.
Lake Resources NL explores for and develops lithium brine projects in Argentina. Its flagship project is its 100% owned the Kachi lithium brine project that consists of 39 mining leases covering an area of approximately 74,000 hectares located in Catamarca province, Argentina. The company was incorporated in 1997 and is based in Sydney, Australia.... LLKKF Profile
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