Lotus Resources Limited Stock Forecast
Red day on Friday for Lotus Resources Limited stock after losing 1.36%
(Updated on May 24, 2024)
The Lotus Resources Limited stock price fell by -1.36% on the last day (Friday, 24th May 2024) from $0.324 to $0.320. During the last trading day the stock fluctuated 6.67% from a day low at $0.300 to a day high of $0.320. The price has been going up and down for this period, and there has been a 8.06% gain for the last 2 weeks. Volume has increased on the last day by 7 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, 7 thousand shares were bought and sold for approximately $2.38 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 29.39% during the next 3 months and, with a 90% probability hold a price between $0.356 and $0.433 at the end of this 3-month period.
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LTSRF Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -3.32%. 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). Lotus Resources 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. The Lotus Resources 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 $0.312 and $0.287. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Lotus Resources Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.282 and $0.270. 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, Lotus Resources Limited finds support just below today's level at $0.282. If this is broken, then the next support from accumulated volume will be at $0.270 and $0.250.
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 $0.0200 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 9.79%.
Our recommended stop-loss: $0.308 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (LTSRF) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Lotus Resources Limited to open at $0.313, and during the day (based on 14 day Average True Range), to move between $0.293 and $0.347, which gives a possible trading interval of +/-$0.0270 (+/-8.43%) up or down from last closing price. If Lotus Resources Limited takes out the full calculated possible swing range there will be an estimated 16.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.324 (1.38%) than the support at $0.282 (11.88%), 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 Lotus Resources Limited 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 Lotus Resources Limited stock to perform well in the short-term.
Current score: 3.595 Buy Candidate Unchanged
Predicted Opening Price for Lotus Resources Limited of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $0.313 ( 2.08%) | $0.320 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LTSRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.333 | 4.17 % | |
| R2 | 0.326 | 1.78 % | ||
| R1 | 0.321 | 0.304 % | ||
| Current price: | 0.320 | |||
| Support | S1 | 0.306 | -4.47 % | |
| S2 | 0.301 | -5.95 % | ||
| S3 | 0.293 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.331 | 3.44 % | ||
| R1 | 0.324 | 1.38 % | ||
| Current price | 0.320 | |||
| Support | S1 | 0.282 | -11.88% | |
| S2 | 0.270 | -15.63% | ||
| S3 | 0.250 | -21.88% |
FAQ
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