Loncor Resources Inc. Stock Forecast
Loncor Resources Inc. stock price ended at $0.350 on Thursday, after losing 2.78%.
(Updated on Jun 27, 2024)
The Loncor Resources Inc. stock price fell by -2.78% on the last day (Thursday, 27th Jun 2024) from $0.360 to $0.350. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.86% from a day low at $0.350 to a day high of $0.360. The price has fallen in 6 of the last 10 days and is down by -11.39% for this period. Volume has increased on the last day by 14 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, 42 thousand shares were bought and sold for approximately $14.56 thousand.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $0.356. A reaction back to this level may hold a second chance to get out before further falls.
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LN.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Loncor Resources 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 $0.365 and $0.410. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Loncor Resources 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 Loncor Resources Inc. stock
Loncor Resources Inc. finds support from accumulated volume at $0.340 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 $0.0100 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 3.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LN.TO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Loncor Resources Inc. to open at $0.353, and during the day (based on 14 day Average True Range), to move between $0.332 and $0.368, which gives a possible trading interval of +/-$0.0184 (+/-5.27%) up or down from last closing price. If Loncor Resources Inc. takes out the full calculated possible swing range there will be an estimated 10.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.340 (2.86%) than the resistance at $0.360 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Loncor Resources Inc. stock A Buy?
The Loncor Resources Inc. stock holds several negative signals and despite the positive trend, we believe Loncor Resources Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.683 Sell Candidate Unchanged
Predicted Opening Price for Loncor Resources Inc. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $0.353 ( 0.95%) | $0.350 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.363 | 3.81% |
| R2 | 0.360 | 2.72% |
| R1 | 0.357 | 2.04% |
| Price | 0.350 | |
| S1 | 0.350 | -0.139% |
| S2 | 0.347 | -0.81% |
| S3 | 0.343 | -1.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.390 | 11.43% |
| R2 | 0.375 | 7.14% |
| R1 | 0.360 | 2.86% |
| Price | 0.350 | |
| S1 | 0.340 | -2.86% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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