LightInTheBox Holding Co Ltd Stock Forecast
Weaker technical forecast for LightInTheBox Holding Co Ltd as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The LightInTheBox Holding Co Ltd stock price fell by -4.15% on the last day (Friday, 19th Apr 2024) from $0.783 to $0.750. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.76% from a day low at $0.740 to a day high of $0.790. The price has fallen in 7 of the last 10 days but is still up by 2.88% over the past 2 weeks. 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 -25 thousand shares and in total, 66 thousand shares were bought and sold for approximately $49.29 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -33.15% during the next 3 months and, with a 90% probability hold a price between $0.386 and $0.533 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LITB Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 13.64%. Further rise is indicated until a new top pivot has been found. 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 LightInTheBox Holding Co Ltd 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 $0.777 and $0.770. A break-up above any of these levels will issue buy signals. 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 LightInTheBox Holding Co Ltd stock
LightInTheBox Holding Co Ltd finds support from accumulated volume at $0.738 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 $0.0500 between high and low, or 6.76%. For the last week the stock has had daily average volatility of 10.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LITB) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect LightInTheBox Holding Co Ltd to open at $0.760, and during the day (based on 14 day Average True Range), to move between $0.676 and $0.82, which gives a possible trading interval of +/-$0.0743 (+/-9.90%) up or down from last closing price. If LightInTheBox Holding Co Ltd takes out the full calculated possible swing range there will be an estimated 19.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.738 (1.61%) than the resistance at $0.763 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LightInTheBox Holding Co Ltd stock A Buy?
LightInTheBox Holding Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.967 Sell Candidate Downgraded
Predicted Opening Price for LightInTheBox Holding Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $0.760 ( 1.33%) | $0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LITB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.81 | 8.00 % | |
| R2 | 0.791 | 5.45 % | ||
| R1 | 0.779 | 3.88 % | ||
| Current price: | 0.750 | |||
| Support | S1 | 0.741 | -1.21 % | |
| S2 | 0.729 | -2.79 % | ||
| S3 | 0.710 | -5.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.793 | 5.72 % | |
| R2 | 0.782 | 4.27 % | ||
| R1 | 0.763 | 1.71 % | ||
| Current price | 0.750 | |||
| Support | S1 | 0.738 | -1.61% | |
| S2 | 0.712 | -5.11% | ||
| S3 | 0.710 | -5.33% |
FAQ
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