Lifezone Metals Limited Stock Forecast
Lifezone Metals Limited stock price ended at $7.20 on Friday, after gaining 4.05%.
(Updated on May 17, 2024)
The Lifezone Metals Limited stock price gained 4.05% on the last trading day (Friday, 17th May 2024), rising from $6.92 to $7.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.96% from a day low at $6.75 to a day high of $7.22. The price has risen in 6 of the last 10 days and is up by 1.12% 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, 9 thousand more shares were traded than the day before. In total, 110 thousand shares were bought and sold for approximately $793.75 thousand.
The stock lies in the middle of a very 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 21.33% during the next 3 months and, with a 90% probability hold a price between $7.30 and $10.47 at the end of this 3-month period.
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LZM Signals & Forecast
There are mixed signals in the stock today. The Lifezone Metals 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 $7.31. On a fall, the stock will find some support from the short-term average at $6.76. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -12.83%. 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). Lifezone Metals Limited 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.
Support, Risk & Stop-loss for Lifezone Metals Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.72 and $6.61. 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, Lifezone Metals Limited finds support just below today's level at $6.72. If this is broken, then the next support from accumulated volume will be at $6.61 and $6.50.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.470 between high and low, or 6.96%. For the last week, the stock has had daily average volatility of 9.83%.
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 Monday 20th
For the upcoming trading day on Monday, 20th we expect Lifezone Metals Limited to open at $7.06, and during the day (based on 14 day Average True Range), to move between $6.53 and $7.87, which gives a possible trading interval of +/-$0.675 (+/-9.37%) up or down from last closing price. If Lifezone Metals Limited takes out the full calculated possible swing range there will be an estimated 18.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.35 (2.08%) than the support at $6.72 (6.67%), 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 Lifezone Metals Limited stock A Buy?
Lifezone Metals 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: -3.400 Sell Candidate Unchanged
Predicted Opening Price for Lifezone Metals Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$7.06 ( 1.99%) | $7.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LZM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.53 | 4.54 % | |
R2 | 7.35 | 2.04 % | ||
R1 | 7.24 | 0.503 % | ||
Current price: | 7.20 | |||
Support | S1 | 6.88 | -4.48 % | |
S2 | 6.77 | -6.02 % | ||
S3 | 6.59 | -8.52 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.86 | 9.17 % | |
R2 | 7.67 | 6.53 % | ||
R1 | 7.35 | 2.08 % | ||
Current price | 7.20 | |||
Support | S1 | 6.72 | -6.67% | |
S2 | 6.61 | -8.19% | ||
S3 | 6.50 | -9.72% |
FAQ
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