Lucapa Diamond Company Limited Stock Forecast
Lucapa Diamond Company Limited stock upgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The Lucapa Diamond Company Limited stock price gained 3.45% on the last trading day (Friday, 28th Jun 2024), rising from $0.0580 to $0.0600. During the last trading day the stock fluctuated 6.90% from a day low at $0.0580 to a day high of $0.0620. The price has been going up and down for this period, and there has been a -11.76% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 803 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $66.22 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0571 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -42.86% during the next 3 months and, with a 90% probability hold a price between $0.0326 and $0.0430 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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LOM.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 3.45%. Further rise is indicated until a new top pivot has been found. Lucapa Diamond Company Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lucapa Diamond Company Limited 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 $0.0623 and $0.0791. 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).
Support, Risk & Stop-loss for Lucapa Diamond Company Limited stock
Lucapa Diamond Company Limited finds support from accumulated volume at $0.0580 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0040 between high and low, or 6.90%. For the last week, the stock has had daily average volatility of 8.08%.
Lucapa Diamond Company Limited is oversold on RSI14 (27). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LOM.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Lucapa Diamond Company Limited to open at $0.0600, and during the day (based on 14 day Average True Range), to move between $0.0547 and $0.0653, which gives a possible trading interval of +/-$0.0053 (+/-8.83%) up or down from last closing price. If Lucapa Diamond Company Limited takes out the full calculated possible swing range there will be an estimated 17.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0580 (3.33%) than the resistance at $0.0650 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lucapa Diamond Company Limited stock A Buy?
Lucapa Diamond Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.151 Sell Candidate Upgraded
Predicted Opening Price for Lucapa Diamond Company Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0600 ( 0%) | $0.0600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOM.AX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0640 | 6.67% |
| R2 | 0.0625 | 4.12% |
| R1 | 0.0615 | 2.55% |
| Price | 0.0600 | |
| S1 | 0.0585 | -2.55% |
| S2 | 0.0575 | -4.12% |
| S3 | 0.0560 | -6.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0680 | 13.33% |
| R2 | 0.0660 | 10.00% |
| R1 | 0.0650 | 8.33% |
| Price | 0.0600 | |
| S1 | 0.0580 | -3.33% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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