LOT Price Prediction Next Week
Analysis and Insights
News Sentiment and Recent Developments:
Lotus Technology (LOT) has shown resilience with a 38% stock surge following its all-time low, driven by positive developments in the EV sector and strategic partnerships. The company's collaboration with CaoCao Mobility to enhance robotaxi services in China highlights its growth potential. Additionally, Lotus reported a 70% year-on-year increase in vehicle deliveries, with China contributing 25% of global deliveries, indicating strong market penetration.
Technical Analysis:
The stock's technical indicators suggest a bearish trend. With RSI values below 50 (RSI_6: 41.96, RSI_12: 33.27, RSI_14: 32.85), the stock may be oversold. The MACD is slightly negative, indicating weak upward momentum. Lotus is trading below its 20, 50, and 200-day moving averages, signaling bearish sentiment.
Fibonacci Levels:
Key Fibonacci levels indicate resistance at 1.66 and 1.73, with support at 1.45 and 1.38. The stock closed at $2.19 on high volume, suggesting short-term reversal potential but within a broader downtrend.
Price Prediction and Recommendation:
Given the technical weakness and despite positive news, the stock is expected to test lower support levels. The predicted price for next week is $2.00. The bearish indicators suggest a sell recommendation.
LOT Similar Chart Price Prediction
The price of LOT is predicted to go up -2.12%, based on the high correlation periods with KZIA. The similarity of these two price pattern on the periods is 98.53%.
LOT
KZIA
Down: -2.12%Similarity: 98.53%
