LightPath Technologies Stock Forecast
Weaker technical forecast for LightPath Technologies as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The LightPath Technologies stock price fell by -2.68% on the last day (Tuesday, 23rd Apr 2024) from $1.49 to $1.45. During the last trading day the stock fluctuated 6.94% from a day low at $1.44 to a day high of $1.54. The price has fallen in 5 of the last 10 days and is down by -2.68% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 34 thousand shares were bought and sold for approximately $49.66 thousand.
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 $1.37 and $1.64 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.47 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 -7.04%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. 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 $1.45 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 $0.0999 between high and low, or 6.94%. For the last week the stock has had daily average volatility of 7.17%.
Our recommended stop-loss: $1.37 (-5.69%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (LPTH) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect LightPath Technologies to open at $1.48, 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 +/-$0.0825 (+/-5.69%) up or down from last closing price. If LightPath Technologies takes out the full calculated possible swing range there will be an estimated 11.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.45 (0.01%) than the resistance at $1.49 (2.75%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.888 Hold/Accumulate Downgraded
Predicted Opening Price for LightPath Technologies of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$1.48 ( 1.84%) | $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 | 1.58 | 8.73 % | |
R2 | 1.54 | 6.09 % | ||
R1 | 1.51 | 4.47 % | ||
Current price: | 1.45 | |||
Support | S1 | 1.44 | -0.795 % | |
S2 | 1.41 | -2.42 % | ||
S3 | 1.38 | -5.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.60 | 10.34 % | |
R2 | 1.50 | 3.44 % | ||
R1 | 1.49 | 2.75 % | ||
Current price | 1.45 | |||
Support | S1 | 1.45 | -0.0069% | |
S2 | 1.44 | -0.697% | ||
S3 | 1.39 | -4.14% |
FAQ
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