LOMIKO METALS INC Stock Forecast
Is LOMIKO METALS INC stock still a buy after falling -18.18% on Thursday?
(Updated on Apr 18, 2024)
The LOMIKO METALS INC stock price fell by -18.18% on the last day (Thursday, 18th Apr 2024) from $0.0110 to $0.0090. During the last trading day the stock fluctuated 2.27% from a day low at $0.0088 to a day high of $0.0090. The price has fallen in 6 of the last 10 days and is down by -27.24% for this period. Volume has increased on the last day by 27 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, 28 thousand shares were bought and sold for approximately $247.50 .
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0080 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.95% during the next 3 months and, with a 90% probability hold a price between $0.0070 and $0.0119 at the end of this 3-month period.
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LMRMF Signals & Forecast
There are few to no technical positive signals at the moment. The LOMIKO METALS INC 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 $0.0106 and $0.0115. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -36.26%. 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). LOMIKO METALS INC 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.
Support, Risk & Stop-loss for LOMIKO METALS INC stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0085. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0002 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 4.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LMRMF) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect LOMIKO METALS INC to open at $0.0089, and during the day (based on 14 day Average True Range), to move between $0.0073 and $0.0107, which gives a possible trading interval of +/-$0.0017 (+/-19.34%) up or down from last closing price. If LOMIKO METALS INC takes out the full calculated possible swing range there will be an estimated 38.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0085 (5.56%) than the resistance at $0.0101 (12.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LOMIKO METALS INC stock A Buy?
LOMIKO METALS INC 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 Sell to a Strong Sell candidate.
Current score: -6.581 Strong Sell Candidate Downgraded
Predicted Opening Price for LOMIKO METALS INC of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.0089 ( 0.741%) | $0.0090 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LMRMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0091 | 1.48 % | |
| R2 | 0.0091 | 0.633 % | ||
| R1 | 0.0090 | 0.108 % | ||
| Current price: | 0.0090 | |||
| Support | S1 | 0.0089 | -1.59 % | |
| S2 | 0.0088 | -2.11 % | ||
| S3 | 0.0087 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0111 | 23.33 % | |
| R2 | 0.0108 | 20.00 % | ||
| R1 | 0.0101 | 12.22 % | ||
| Current price | 0.0090 | |||
| Support | S1 | 0.0085 | -5.56% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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