Lotus Resources Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Lotus Resources Limited stock price on Tuesday which ended trading at $0.225
(Updated on Jun 25, 2024)
The Lotus Resources Limited stock price fell by -2.17% on the last day (Tuesday, 25th Jun 2024) from $0.230 to $0.225. During the last trading day the stock fluctuated 12.49% from a day low at $0.225 to a day high of $0.253. The price has been going up and down for this period, and there has been a -13.46% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -63 thousand shares and in total, 25 thousand shares were bought and sold for approximately $5.63 thousand.
Given the current horizontal trend, you can expect Lotus Resources Limited stock with a 90% probability to be traded between $0.226 and $0.333 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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LTSRF Signals & Forecast
There are few to no technical positive signals at the moment. The Lotus Resources Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.246 and $0.286. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -32.02%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lotus Resources Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0281 between high and low, or 12.49%. For the last week the stock has had daily average volatility of 3.83%.
Lotus Resources Limited is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LTSRF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Lotus Resources Limited to open at $0.234, and during the day (based on 14 day Average True Range), to move between $0.210 and $0.240, which gives a possible trading interval of +/-$0.0153 (+/-6.81%) up or down from last closing price. If Lotus Resources Limited takes out the full calculated possible swing range there will be an estimated 13.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.270, some $0.0450 (20.00%) from the current price of $0.225, our system finds the risk reward not very attractive.
Is Lotus Resources Limited stock A Buy?
Lotus Resources 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: -3.119 Sell Candidate Downgraded
Predicted Opening Price for Lotus Resources Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.234 ( 4.16%) | $0.225 |
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 | |
|---|---|---|
| R3 | 0.262 | 16.65% |
| R2 | 0.252 | 11.88% |
| R1 | 0.245 | 8.93% |
| Price | 0.225 | |
| S1 | 0.224 | -0.608% |
| S2 | 0.217 | -3.56% |
| S3 | 0.206 | -8.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.280 | 24.44% |
| R2 | 0.275 | 22.22% |
| R1 | 0.270 | 20.00% |
| Price | 0.225 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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