Lion One Metals Limited Stock Forecast
High volatility in Lion One Metals Limited stock price on Friday which ended trading at $0.342
(Updated on Apr 26, 2024)
The Lion One Metals Limited stock price fell by -3.61% on the last day (Friday, 26th Apr 2024) from $0.355 to $0.342. During the last trading day the stock fluctuated 10.59% from a day low at $0.340 to a day high of $0.376. The price has risen in 6 of the last 10 days but is still down by -3.96% for this period. Volume has increased on the last day by 157 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, 638 thousand shares were bought and sold for approximately $218.20 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $0.336, a level that may pose a second chance to hit a runner. According to fan-theory $0.450 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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LOMLF Signals & Forecast
There are few to no technical positive signals at the moment. The Lion One Metals Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.353 and $0.343. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -9.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Lion One Metals Limited 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".
Support, Risk & Stop-loss for Lion One Metals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.307 and $0.289. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Lion One Metals Limited finds support just below today's level at $0.307. If this is broken, then the next support from accumulated volume will be at $0.289 and $0.280.
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 $0.0360 between high and low, or 10.59%. For the last week, the stock has had daily average volatility of 7.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LOMLF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Lion One Metals Limited to open at $0.353, and during the day (based on 14 day Average True Range), to move between $0.316 and $0.369, which gives a possible trading interval of +/-$0.0267 (+/-7.80%) up or down from last closing price. If Lion One Metals Limited takes out the full calculated possible swing range there will be an estimated 15.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.355 (3.74%) than the support at $0.307 (10.29%), 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 Lion One Metals Limited stock A Buy?
Lion One Metals 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.878 Sell Candidate Downgraded
Predicted Opening Price for Lion One Metals Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $0.353 ( 3.08%) | $0.342 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOMLF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.389 | 13.60 % | |
| R2 | 0.375 | 9.58 % | ||
| R1 | 0.366 | 7.10 % | ||
| Current price: | 0.342 | |||
| Support | S1 | 0.339 | -0.94 % | |
| S2 | 0.330 | -3.42 % | ||
| S3 | 0.317 | -7.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.407 | 18.91 % | |
| R2 | 0.395 | 15.43 % | ||
| R1 | 0.355 | 3.74 % | ||
| Current price | 0.342 | |||
| Support | S1 | 0.307 | -10.29% | |
| S2 | 0.289 | -15.69% | ||
| S3 | 0.280 | -18.18% |
FAQ
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