Lifezone Metals Limited Stock Forecast

Lifezone Metals Limited stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)

LZM Signals & Forecast

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. The Lifezone Metals 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 $7.51 and $7.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -18.16%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Lifezone Metals Limited stock

Lifezone Metals Limited finds support from accumulated volume at $6.72 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.330 between high and low, or 4.95%. For the last week the stock has had daily average volatility of 14.78%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (LZM) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Lifezone Metals Limited to open at $6.80, and during the day (based on 14 day Average True Range), to move between $6.00 and $7.52, which gives a possible trading interval of +/-$0.762 (+/-11.27%) up or down from last closing price. If Lifezone Metals Limited takes out the full calculated possible swing range there will be an estimated 22.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $6.72 (0.59%) than the resistance at $7.35 (8.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Lifezone Metals Limited stock A Buy?

The Lifezone Metals Limited stock holds several negative signals and despite the positive trend, we believe Lifezone Metals Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.036 Sell Candidate Downgraded

Predicted Opening Price for Lifezone Metals Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.