Laurion Mineral Exploration Inc. Stock Forecast
Laurion Mineral Exploration Inc. stock price down 1.28% on Friday
(Updated on Jun 28, 2024)
The Laurion Mineral Exploration Inc. stock price fell by -1.28% on the last day (Friday, 28th Jun 2024) from $0.390 to $0.385. During the last trading day the stock fluctuated 5.26% from a day low at $0.380 to a day high of $0.400. The price has fallen in 5 of the last 10 days and is down by -6.1% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -12 thousand shares and in total, 29 thousand shares were bought and sold for approximately $11.03 thousand.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.365 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Laurion Mineral Exploration Inc. stock with a 90% probability to be traded between $0.371 and $0.507 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LME.V Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.48%. 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). 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 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 $0.420. On a fall, the stock will find some support from the short-term average at $0.381. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 $0.370 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 $0.0200 between high and low, or 5.26%. For the last week the stock has had daily average volatility of 10.92%.
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 Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Laurion Mineral Exploration Inc. to open at $0.388, and during the day (based on 14 day Average True Range), to move between $0.357 and $0.413, which gives a possible trading interval of +/-$0.0283 (+/-7.36%) 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 14.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.390 (1.30%) than the support at $0.370 (3.90%), 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 Laurion Mineral Exploration Inc. stock A Buy?
Laurion Mineral Exploration Inc. 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: -1.376 Sell Candidate Unchanged
Predicted Opening Price for Laurion Mineral Exploration Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $0.388 ( 0.87%) | $0.385 |
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 | 0.408 | 6.06% |
| R2 | 0.401 | 4.08% |
| R1 | 0.396 | 2.85% |
| Price | 0.385 | |
| S1 | 0.381 | -1.12% |
| S2 | 0.376 | -2.34% |
| S3 | 0.368 | -4.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.450 | 16.88% |
| R2 | 0.395 | 2.60% |
| R1 | 0.390 | 1.30% |
| Price | 0.385 | |
| S1 | 0.370 | -3.90% |
| S2 | 0.365 | -5.19% |
| S3 | 0.350 | -9.09% |
FAQ
Click here for our free guide on how to buy Laurion Mineral Exploration Inc. Stock.
