Standard Lithium Ltd. Stock Forecast
High volatility in Standard Lithium Ltd. stock price on Wednesday which ended trading at $1.33
(Updated on May 08, 2024)
The Standard Lithium Ltd. stock price gained 0.758% on the last trading day (Wednesday, 8th May 2024), rising from $1.32 to $1.33. During the last trading day the stock fluctuated 11.81% from a day low at $1.27 to a day high of $1.42. The price has risen in 6 of the last 10 days and is up by 17.7% 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, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $3.18 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $1.34 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.01% during the next 3 months and, with a 90% probability hold a price between $0.94 and $1.23 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SLI Signals & Forecast
The Standard Lithium Ltd. 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 $1.30 and $1.19. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, May 06, 2024, and so far it has fallen -0.746%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Standard Lithium Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.23 and $1.19. 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, Standard Lithium Ltd. finds support just below today's level at $1.23. If this is broken, then the next support from accumulated volume will be at $1.19 and $1.18.
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 $0.150 between high and low, or 11.81%. For the last week, the stock has had daily average volatility of 8.84%.
Our recommended stop-loss: $1.28 (-3.87%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SLI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Standard Lithium Ltd. to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.42, which gives a possible trading interval of +/-$0.0866 (+/-6.51%) up or down from last closing price. If Standard Lithium Ltd. takes out the full calculated possible swing range there will be an estimated 13.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.38 (3.76%) than the support at $1.23 (7.52%), 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.
Earnings coming up
Standard Lithium Ltd. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.0500. We will update the financials statements for Standard Lithium Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.79% in the first trading day after earnings release.
Is Standard Lithium Ltd. stock A Buy?
Standard Lithium Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.651 Hold/Accumulate Downgraded
Predicted Opening Price for Standard Lithium Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $1.34 ( 0.752%) | $1.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.49 | 12.03 % | |
| R2 | 1.43 | 7.72 % | ||
| R1 | 1.40 | 5.06 % | ||
| Current price: | 1.33 | |||
| Support | S1 | 1.28 | -3.56 % | |
| S2 | 1.25 | -6.22 % | ||
| S3 | 1.19 | -10.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.51 | 13.53 % | |
| R2 | 1.44 | 8.27 % | ||
| R1 | 1.38 | 3.76 % | ||
| Current price | 1.33 | |||
| Support | S1 | 1.23 | -7.52% | |
| S2 | 1.19 | -10.53% | ||
| S3 | 1.18 | -11.28% |
SLI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 27, 2012 | Dec 04, 2012 | Dec 17, 2012 | $2.00 | 0% |
FAQ
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