So Far This Year, Snow Lake Resources Ltd. (LITM) Reached A New High 2 times

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As of Wednesday close, Snow Lake Resources Ltd.’s (NASDAQ:LITM) stock was up $0.08, moving up 2.48 percent to $3.31. The average number of shares traded per day over the past five days has been 235,120 shares. 2 times new highs have been achieved over the past 5 days, with a $0.15 gain in that time frame. In the last twenty days, the average volume was 404,770, while in the previous 50 days, it was 2,536,962.

Since last month, LITM stock rose 27.80%. Shares of the company fell to $2.15 on 10/24/22, the lowest level in the past month. A 52-week high of $10.50 was reached on 03/31/22 after having rallying from a 52-week low of $1.51. Since the beginning of this year, LITM’s stock price has dropped by -42.53% or -$2.45, and marked a new high 9 times. However, the stock has declined by -68.48% since its 52-week high.


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Financial Health

In the recent quarter, Snow Lake Resources Ltd.’s quick ratio stood at 14.10, while its current ratio was 14.10, showing that the company is able to pay off its debt.

During the quarter, the company generated -$2.11 million in EBITDA. The liabilities of Snow Lake Resources Ltd. were 1.63 million at the end of its most recent quarter, and its total debt was $0.78 million.

Technical Picture

This quick technical analysis looks at Snow Lake Resources Ltd.’s (LITM) price momentum. With a historical volatility rate of 76.10%, the RSI 9-day stood at 60.60% on 23 November.

With respect to its five-day moving average, the current Snow Lake Resources Ltd. price is up by +4.75% percent or $0.15. At present, LITM shares trade +36.21% above its 20-day simple moving average and +36.21% percent above its 100-day simple moving average. However, the stock is currently trading approximately +16.96% above its SMA50 and -49.85% below its SMA200.

Stochastic coefficient K was 57.70% and Stochastic coefficient D was 55.20%, while ATR was 0.30. Given the Stochastic reading of 53.85% for the 14-day period, the RSI (14) reading has been calculated as 59.84%. As of today, the MACD Oscillator reading stands at -0.02, while the 14-day reading stands at 0.04.

Analyst Ratings

Snow Lake Resources Ltd. (LITM) has been rated Buy by analysts. According to 0 brokerage firms, LITM is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Snow Lake Resources Ltd. stock as buy, with 1 recommending it as overweight.

With a median target price of $15.00, the current consensus forecast for the stock is $15.00 – $15.00. Based on these forecasts, analysts predict Snow Lake Resources Ltd. (LITM) will achieve an average price target of $15.00.

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