LightPath Technologies Stock Forecast
LightPath Technologies stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The LightPath Technologies stock price gained 0.694% on the last trading day (Friday, 19th Apr 2024), rising from $1.44 to $1.45. During the last trading day the stock fluctuated 5.44% from a day low at $1.42 to a day high of $1.50. The price has fallen in 5 of the last 10 days and is down by -3.97% for this period. Volume fell on the last day by -86 thousand shares and in total, 28 thousand shares were bought and sold for approximately $40.58 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect LightPath Technologies stock with a 90% probability to be traded between $1.40 and $1.68 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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LPTH Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The LightPath Technologies stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.49 and $1.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -7.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for LightPath Technologies stock
LightPath Technologies finds support from accumulated volume at $1.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0774 between high and low, or 5.44%. For the last week the stock has had daily average volatility of 6.18%.
Our recommended stop-loss: $1.37 (-5.47%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (LPTH) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect LightPath Technologies to open at $1.46, and during the day (based on 14 day Average True Range), to move between $1.37 and $1.53, which gives a possible trading interval of +/-$0.0779 (+/-5.37%) up or down from last closing price. If LightPath Technologies takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.44 (0.69%) than the resistance at $1.47 (1.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LightPath Technologies stock A Buy?
LightPath Technologies holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.435 Hold/Accumulate Upgraded
Predicted Opening Price for LightPath Technologies of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.46 ( 0.520%) | $1.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LPTH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 5.86 % | |
| R2 | 1.51 | 3.82 % | ||
| R1 | 1.49 | 2.56 % | ||
| Current price: | 1.45 | |||
| Support | S1 | 1.43 | -1.52 % | |
| S2 | 1.41 | -2.78 % | ||
| S3 | 1.38 | -4.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.60 | 10.34 % | |
| R2 | 1.50 | 3.45 % | ||
| R1 | 1.47 | 1.38 % | ||
| Current price | 1.45 | |||
| Support | S1 | 1.44 | -0.690% | |
| S2 | 1.39 | -4.14% | ||
| S3 | 1.37 | -5.52% |
FAQ
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