Lithium

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Lithium Americas’ stock price slumped nearly 8% last week.</a> </li> 
 <li> <span>2</span> <a>Lithium Americas share (NYSE: LAC) price slipped below the 50-day EMA indicating bearishness in the short term.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The daily chart illustrates the formation of a falling wedge pattern.</a> </li> 
</ul> 
<p>Lithium Americas Inc. stock price has been witnessing a heavy selloff from the upper levels in the last two weeks. The LAC stock price fell nearly 24% in the last two weeks indicating bearish dominance in the stock price.<br><br>The price trend analysis demonstrates that Lithium Americas share price has been in a long-term correction phase and declined forming a falling wedge pattern over the daily chart. The LAC stock price declined, forming several lower lows in the last three quarters.&nbsp;</p> 
<p>Technical Indicators imply that the 200-day EMA has been acting as a major dynamic resistance for the price as the price was maintained below it for 90% of the time.<br><br>Currently, the Lithium Americas stock price has slipped and is struggling to hold near the lower trendline of the declining channel pattern. The breakdown below the channel pattern might initiate another fall to the downside and the price may slide to the lower levels.<br><br>However, it has been observed that the price has taken a bounce back once it hits the lower trendline. Hence, there are chances of the price trend to turn optimistic too. The optimistic price trend has an upside potential of almost 27% which could take the price near the round level of $20. However, it requires an accumulation of buyers at the lower levels.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh6.googleusercontent.com/BwYiEZ6m8L0yD-OGUkzbe631OgOhQPR7uDsuKKRMTu6zbTi7VWUVKZnCDdg3IbE_dzxGRJOUVsIt_BYWMZ0dYOmnlhfOH-KMgjyGvHVvb5e1bysP8ywbTbP-Li_eXtggd3CM3AlSo3VAVs_jhfeBOgg" alt="Lithium Americas Stock Price Has Potential to Gain 25% in October">
  <figcaption class="wp-element-caption">
   &nbsp;Source: barchart.com
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 </figure>
</div> 
<p>Lithium Americas stock derivatives data analysis states that the current implied volatility in the market is 55.94% with an increment of 2.68% in the last trading session. The at-the-money strike price has 288 open contracts on the PUT side and 49 open contracts on the CALL side indicating the dominance of buyers at the CMP.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-lithium-americas-stock-price-forecast-for-2023-strong"><strong>Lithium Americas Stock Price Forecast For 2023</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh4.googleusercontent.com/U-s3U3v9k4zmpRxq-b79IYbGjGYNQp2rYNZqAGOcwLV_jmyU8YjD9CuPUWNhgd0O-jQcIyqFOJS4Ef0VFJZdSKIHhvnk_2ZaxrqGmAjt9-pkv3rN8uePNS4Wa18UyQEW9VfWmSW0u0Ak0Zr39NgY_Ic" alt="Lithium Americas Stock Price Has Potential to Gain 25% in October">
  <figcaption class="wp-element-caption">
   Source: LAC 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The average analyst price target for Lithium Americas stock in 2023 is $36.00, which represents a potential upside of 18.53% from the current price. However, there is a wide range of analyst price targets from $25.00 to $40.87.</p> 
<p>The most optimistic analysts believe that Lithium Americas stock could reach $40.87 in 2023 if the global demand for lithium grows strongly and Lithium Americas is able to successfully execute its growth plans.</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-bearish-outlook-in-short-term-strong"><strong>Technical Indicators Signal Bearish Outlook in Short-Term</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh6.googleusercontent.com/F-VsHuty1WSLjdkNq0REerFgqKRgKe7byPYt1IDjGWvJJAJ_ZY7toI40SOIs2-jWtL8fkcH6Tax0M8hYIlt68bGmPahqw9Y9Z2_rgT951OoRsylRUFmegAopH-Hq3u1hVE2UpEKRNwq-AGeW7dZu7rc" alt="Lithium Americas Stock Price Has Potential to Gain 25% in October">
  <figcaption class="wp-element-caption">
   Source: LAC 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The overall technical indicators including RSI and MACD opinion rating for the <a href="https://www.thecoinrepublic.com/2023/09/20/lac-stock-price-slumped-7-on-tuesday-what-next-this-week/">LAC stock</a> is a 90% sell with a strong short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p><a href="https://www.thecoinrepublic.com/2023/09/20/lac-stock-price-slumped-7-on-tuesday-what-next-this-week/">Lithium Americas stock</a> has seen a heavy selloff in the past two weeks, falling nearly 24%. The price trend is bearish, with the stock in a long-term correction phase and trading below the 200-day EMA. The stock is currently struggling to hold near the lower trendline of the declining channel pattern. A breakdown below the channel pattern could lead to further downside.&nbsp;</p> 
<p>However, the stock has bounced back from the lower trendline in the past, so there is potential for a bullish reversal. The optimistic price trend has an upside potential of almost 27%. The average analyst price target for Lithium Americas stock in 2023 is $36.00 with a wide range of targets from $25.00 to $40.87.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $15.09 and $13.73</li> 
 <li><strong>Resistance Levels:</strong> $17.13 and $18.26</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Lithium Americas Stock Price Has Potential to Gain 25% in October

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Thecoinrepublic.com

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