SNOW LAKE RESOURCES LTD (LITM) Stock Technical Analysis
USA - NASDAQ:LITM - CA83336J3073 - Common Stock
Taking everything into account, LITM scores 0 out of 10 in our technical rating. LITM scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
The technical rating of LITM is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
3.26
When analyzing the support we can see 2 important areas.
- Support @3.40 from a horizontal line in the weekly time frame.
- Support @3.29 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- Resistance @4.02 from a horizontal line in the daily time frame.
- A resistance zone ranging from 4.20 to 4.35. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @6.01 from a trend line in the daily time frame.
- Resistance @6.33 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for LITM is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for LITM is down. |
| ChartMill Relative Strength | 20.84 | NEGATIVE | LITM has a low relative strength, it was outperformed by 79.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of LITM is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of LITM is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of LITM is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 40.28 | NEUTRAL | The RSI value for LITM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests LITM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 11.25 | OVERSOLD | The low Stochastics value suggests LITM may be oversold. |
| Average True Range in percent/ATR (20) | 17.72 | HIGH VOLATILITY | The high ATR as a percentage value for LITM suggests high volalility. |
| Average Directional Index/ADX (14) | 24.01 | NEUTRAL | The ADX value for LITM suggests a possible start of a new trend. |
3.58
+0.24 (+7.19%)
SNOW LAKE RESOURCES LTD / LITM FAQ
What is the technical rating for LITM stock?
ChartMill assigns a technical rating of 0 / 10 to LITM.
Can you provide the trend direction for SNOW LAKE RESOURCES LTD?
The current trend direction for SNOW LAKE RESOURCES LTD (LITM) is Bearish.
What is the RSI signal for SNOW LAKE RESOURCES LTD (LITM) stock?
SNOW LAKE RESOURCES LTD (LITM) has an RSI value of 40.2815. This indicates that the stock is currently neutral.
What is the short term momentum for LITM stock?
The short term momentum for SNOW LAKE RESOURCES LTD (LITM) is negative.
What is the buy/sell signal for SNOW LAKE RESOURCES LTD (LITM) stock?
The buy/sell signal for SNOW LAKE RESOURCES LTD (LITM) is sell as both the short term and long term trends are negative.