Lion One Metals Limited Stock Forecast
Lion One Metals Limited stock price down 1.22% on Friday
(Updated on May 10, 2024)
The Lion One Metals Limited stock price fell by -1.22% on the last day (Friday, 10th May 2024) from $0.366 to $0.362. During the last trading day the stock fluctuated 3.64% from a day low at $0.357 to a day high of $0.370. The price has risen in 6 of the last 10 days and is up by 5.67% over the past 2 weeks. Volume has increased on the last day by 46 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, 173 thousand shares were bought and sold for approximately $62.41 thousand.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.375 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Lion One Metals Limited stock with a 90% probability to be traded between $0.276 and $0.372 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.
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LOMLF Signals & Forecast
The Lion One Metals Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.362 and $0.350. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -3.96%. Further fall is indicated until a new bottom pivot has been found. 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". The very low volume increases the risk and reduces the other technical signals issued.
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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0130 (3.64%) between high and low. For the last week, the stock has had daily average volatility of 4.10%.
Our recommended stop-loss: $0.350 (-3.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (LOMLF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Lion One Metals Limited to open at $0.363, and during the day (based on 14 day Average True Range), to move between $0.339 and $0.384, which gives a possible trading interval of +/-$0.0227 (+/-6.27%) 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 12.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.370 (2.32%) than the support at $0.307 (15.10%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.942 Hold/Accumulate Unchanged
Predicted Opening Price for Lion One Metals Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $0.363 ( 0.350%) | $0.362 |
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 | 0.376 | 3.95 % | |
| R2 | 0.371 | 2.57 % | ||
| R1 | 0.368 | 1.72 % | ||
| Current price: | 0.362 | |||
| Support | S1 | 0.358 | -1.02 % | |
| S2 | 0.355 | -1.87 % | ||
| S3 | 0.350 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.399 | 10.34 % | |
| R2 | 0.395 | 9.24 % | ||
| R1 | 0.370 | 2.32 % | ||
| Current price | 0.362 | |||
| Support | S1 | 0.307 | -15.10% | |
| S2 | 0.289 | -20.22% | ||
| S3 | 0.280 | -22.57% |
FAQ
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