Lesaka Technologies, Inc. Stock Forecast
Stronger technical forecast for Lesaka Technologies, Inc. stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Lesaka Technologies, Inc. stock price gained 0.83% on the last trading day (Tuesday, 25th Jun 2024), rising from $4.83 to $4.87. During the last trading day the stock fluctuated 9.29% from a day low at $4.52 to a day high of $4.94. The price has risen in 7 of the last 10 days and is up by 7.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 thousand more shares were traded than the day before. In total, 49 thousand shares were bought and sold for approximately $236.59 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.10% during the next 3 months and, with a 90% probability hold a price between $5.68 and $6.78 at the end of this 3-month period.
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LSAK Signals & Forecast
The Lesaka Technologies, Inc. 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 $4.76 and $4.74. 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). Lesaka Technologies, Inc. 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. Higher liquidity also reduces the general risk. 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 Friday, May 10, 2024, and so far it has fallen -2.79%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Lesaka Technologies, Inc. stock
Lesaka Technologies, Inc. finds support from accumulated volume at $4.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.420 between high and low, or 9.29%. For the last week, the stock has had daily average volatility of 5.23%.
Our recommended stop-loss: $4.59 (-5.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 82 days ago.)
Trading Expectations (LSAK) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Lesaka Technologies, Inc. to open at $4.77, and during the day (based on 14 day Average True Range), to move between $4.66 and $5.08, which gives a possible trading interval of +/-$0.206 (+/-4.23%) up or down from last closing price. If Lesaka Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.88 (0.21%) than the support at $4.85 (0.41%), 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 Lesaka Technologies, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lesaka Technologies, Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.732 Buy Candidate Upgraded
Predicted Opening Price for Lesaka Technologies, Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $4.77 ( 1.98%) | $4.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LSAK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.19 | 6.64% |
| R2 | 5.03 | 3.35% |
| R1 | 4.93 | 1.32% |
| Price | 4.87 | |
| S1 | 4.61 | -5.27% |
| S2 | 4.51 | -7.30% |
| S3 | 4.35 | -10.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.01 | 2.87% |
| R2 | 4.95 | 1.64% |
| R1 | 4.88 | 0.205% |
| Price | 4.87 | |
| S1 | 4.85 | -0.411% |
| S2 | 4.60 | -5.54% |
| S3 | 4.00 | -17.86% |
FAQ
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