Laurion Mineral Exploration Inc. Stock Forecast
Laurion Mineral Exploration Inc. stock price down 1.35% on Tuesday
(Updated on Jun 25, 2024)
The Laurion Mineral Exploration Inc. stock price fell by -1.35% on the last day (Tuesday, 25th Jun 2024) from $0.370 to $0.365. During the last trading day the stock fluctuated 8.57% from a day low at $0.350 to a day high of $0.380. The price has fallen in 4 of the last 10 days and is down by -6.41% for this period. Volume has increased on the last day by 87 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 114 thousand shares were bought and sold for approximately $41.61 thousand.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.363 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.24% during the next 3 months and, with a 90% probability hold a price between $0.379 and $0.526 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LME.V Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Laurion Mineral Exploration Inc. 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 $0.389 and $0.426. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -26.26%. Further fall is indicated until a new bottom pivot has been found. Laurion Mineral Exploration Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Laurion Mineral Exploration Inc. stock
Laurion Mineral Exploration Inc. finds support from accumulated volume at $0.350 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 $0.0300 between high and low, or 8.57%. For the last week, the stock has had daily average volatility of 7.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LME.V) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Laurion Mineral Exploration Inc. to open at $0.365, and during the day (based on 14 day Average True Range), to move between $0.341 and $0.389, which gives a possible trading interval of +/-$0.0242 (+/-6.63%) up or down from last closing price. If Laurion Mineral Exploration Inc. takes out the full calculated possible swing range there will be an estimated 13.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.350 (4.11%) than the resistance at $0.390 (6.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Laurion Mineral Exploration Inc. stock A Buy?
The Laurion Mineral Exploration Inc. stock holds several negative signals and despite the positive trend, we believe Laurion Mineral Exploration Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.130 Sell Candidate Unchanged
Predicted Opening Price for Laurion Mineral Exploration Inc. of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$0.365 ( 0%) | $0.365 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LME.V
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.395 | 8.22% |
R2 | 0.384 | 5.08% |
R1 | 0.376 | 3.14% |
Price | 0.365 | |
S1 | 0.354 | -3.14% |
S2 | 0.346 | -5.08% |
S3 | 0.335 | -8.22% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.450 | 23.29% |
R2 | 0.395 | 8.22% |
R1 | 0.390 | 6.85% |
Price | 0.365 | |
S1 | 0.350 | -4.11% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Laurion Mineral Exploration Inc. Stock.