Lytus Technologies Holdings PTV. Ltd. Stock Forecast
Green day on Friday for Lytus Technologies Holdings PTV. Ltd.
(Updated on May 17, 2024)
The Lytus Technologies Holdings PTV. Ltd. stock price gained 4.25% on the last trading day (Friday, 17th May 2024), rising from $3.06 to $3.19. During the last trading day the stock fluctuated 4.25% from a day low at $3.07 to a day high of $3.20. The price has fallen in 7 of the last 10 days and is down by -6.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 35 thousand shares were bought and sold for approximately $112.56 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Lytus Technologies Holdings PTV. Ltd. stock with a 90% probability to be traded between $0.167 and $8.92 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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LYT Signals & Forecast
Lytus Technologies Holdings PTV. Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Lytus Technologies Holdings PTV. Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $3.71. On a fall, the stock will find some support from the short-term average at $3.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -63.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Lytus Technologies Holdings PTV. Ltd. stock
Lytus Technologies Holdings PTV. Ltd. finds support from accumulated volume at $3.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.131 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 4.91%.
Lytus Technologies Holdings PTV. Ltd. is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LYT) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Lytus Technologies Holdings PTV. Ltd. to open at $3.15, and during the day (based on 14 day Average True Range), to move between $2.81 and $3.57, which gives a possible trading interval of +/-$0.375 (+/-11.77%) up or down from last closing price. If Lytus Technologies Holdings PTV. Ltd. takes out the full calculated possible swing range there will be an estimated 23.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.10 (2.82%) than the resistance at $3.35 (5.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lytus Technologies Holdings PTV. Ltd. stock A Buy?
Lytus Technologies Holdings PTV. 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.
Current score: -3.695 Sell Candidate Unchanged
Predicted Opening Price for Lytus Technologies Holdings PTV. Ltd. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$3.15 ( 1.14%) | $3.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.28 | 2.95 % | |
R2 | 3.23 | 1.39 % | ||
R1 | 3.20 | 0.421 % | ||
Current price: | 3.19 | |||
Support | S1 | 3.10 | -2.71 % | |
S2 | 3.07 | -3.67 % | ||
S3 | 3.02 | -5.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.70 | 15.99 % | |
R2 | 3.37 | 5.64 % | ||
R1 | 3.35 | 5.02 % | ||
Current price | 3.19 | |||
Support | S1 | 3.10 | -2.82% | |
S2 | 2.95 | -7.52% | ||
S3 | 2.43 | -23.82% |
FAQ
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