SNOW LAKE RESOURCES LTD (LITM) Stock Technical Analysis
NASDAQ:LITM • CA83336J3073
We assign a technical rating of 0 out of 10 to LITM. 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 short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- When comparing the yearly performance of all stocks, LITM is a bad performer in the overall market: 86% of all stocks are doing better.
- LITM is one of the lesser performing stocks in the Metals & Mining industry. 85% of 156 stocks in the same industry do better.
- LITM is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month LITM has a been trading in the 2.63 - 3.95 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, LITM does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 3.20. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.08, a Stop Loss order could be placed below this zone.
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2.58
When analyzing the support we can see 4 important areas.
- A support zone ranging from 3.04 to 3.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 2.90 to 2.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.68 from a trend line in the daily time frame.
- Support @2.61 from a trend line in the weekly time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 3.20 to 3.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @3.52 from a trend line in the daily time frame.
- Resistance @3.79 from a trend line in the daily time frame.
- Resistance @4.03 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 | NEUTRAL | NEUTRAL | The short term trend for LITM is neutral. |
| ChartMill Relative Strength | 14.24 | NEGATIVE | LITM has a low relative strength, it was outperformed by 85.76% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of LITM is above 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) | 50.96 | NEUTRAL | The RSI value for LITM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests LITM has a positive trend. |
| Stochastics (14,3) | 53.91 | NEUTRAL | The Stochastics value for LITM is a neutral value. |
| Average True Range in percent/ATR (20) | 8.89 | HIGH VOLATILITY | The high ATR as a percentage value for LITM suggests high volalility. |
| Average Directional Index/ADX (14) | 9.21 | NEGATIVE | The low ADX value for LITM suggests a weak or negative trend. |
3.19
+0.16 (+5.28%)
SNOW LAKE RESOURCES LTD / LITM FAQ
What is the technical rating for LITM stock?
ChartMill assigns a technical rating of 0 / 10 to LITM.
What is the current trend direction of SNOW LAKE RESOURCES LTD (LITM) stock?
The current trend direction for SNOW LAKE RESOURCES LTD (LITM) is Bearish.
What is the RSI signal for LITM stock?
SNOW LAKE RESOURCES LTD (LITM) has an RSI value of 50.961. This indicates that the stock is currently neutral.
What is the MACD signal for SNOW LAKE RESOURCES LTD (LITM) stock?
The MACD indicator for SNOW LAKE RESOURCES LTD (LITM) has a value of 0.0267283, indicating a bearish trend.
Can you provide the support and resistance levels for SNOW LAKE RESOURCES LTD?
SNOW LAKE RESOURCES LTD (LITM) has a support level at 3.08 and a resistance level at 3.2. Check the full technical report for our detailed analysis of LITM support and resistance levels.