Lotus Resources Limited Stock Forecast
Green day on Friday for Lotus Resources Limited
(Updated on Jun 28, 2024)
The Lotus Resources Limited stock price gained 4.62% on the last trading day (Friday, 28th Jun 2024), rising from $0.325 to $0.340. During the last trading day the stock fluctuated 4.55% from a day low at $0.330 to a day high of $0.345. The price has fallen in 6 of the last 10 days and is down by -12.82% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $2.51 million.
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 $0.324 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.02% during the next 3 months and, with a 90% probability hold a price between $0.285 and $0.403 at the end of this 3-month period.
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LOT.AX Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 4.62%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lotus Resources Limited 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 $0.415. On a fall, the stock will find some support from the short-term average at $0.339. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lotus Resources Limited stock
Lotus Resources Limited finds support from accumulated volume at $0.335 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 $0.0150 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 5.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LOT.AX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Lotus Resources Limited to open at $0.338, and during the day (based on 14 day Average True Range), to move between $0.320 and $0.360, which gives a possible trading interval of +/-$0.0196 (+/-5.77%) up or down from last closing price. If Lotus Resources Limited takes out the full calculated possible swing range there will be an estimated 11.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.335 (1.47%) than the resistance at $0.400 (17.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lotus Resources Limited stock A Buy?
Lotus Resources Limited 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: -4.063 Sell Candidate Unchanged
Predicted Opening Price for Lotus Resources Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.338 ( 0.490%) | $0.340 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LOT.AX
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.353 | 3.92% |
R2 | 0.348 | 2.24% |
R1 | 0.344 | 1.20% |
Price | 0.340 | |
S1 | 0.333 | -2.18% |
S2 | 0.329 | -3.22% |
S3 | 0.323 | -4.90% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.415 | 22.06% |
R2 | 0.410 | 20.59% |
R1 | 0.400 | 17.65% |
Price | 0.340 | |
S1 | 0.335 | -1.47% |
S2 | 0.330 | -2.94% |
S3 | 0.325 | -4.41% |
FAQ
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