LightInTheBox Holding Co Ltd Stock Forecast
LightInTheBox Holding Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The LightInTheBox Holding Co Ltd stock price fell by -3.23% on the last day (Wednesday, 24th Apr 2024) from $0.746 to $0.722. During the last trading day the stock fluctuated 8.67% from a day low at $0.720 to a day high of $0.782. The price has fallen in 7 of the last 10 days and is down by -2.49% for this period. Volume has increased on the last day by 22 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 60 thousand shares were bought and sold for approximately $43.20 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 -32.67% during the next 3 months and, with a 90% probability hold a price between $0.379 and $0.525 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 9.33%. 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 $0.766 and $0.761. A break-up above any of these levels will issue buy signals. LightInTheBox Holding Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $0.720 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0624 between high and low, or 8.67%. For the last week, the stock has had daily average volatility of 10.25%.
Our recommended stop-loss: $0.691 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (LITB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect LightInTheBox Holding Co Ltd to open at $0.741, and during the day (based on 14 day Average True Range), to move between $0.646 and $0.797, which gives a possible trading interval of +/-$0.0753 (+/-10.43%) 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 20.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.720 (0.22%) than the resistance at $0.763 (5.71%), 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 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: -0.974 Hold/Accumulate Upgraded
Predicted Opening Price for LightInTheBox Holding Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $0.741 ( 2.73%) | $0.722 |
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 | 0.80 | 11.38 % | |
| R2 | 0.780 | 8.08 % | ||
| R1 | 0.765 | 6.04 % | ||
| Current price: | 0.722 | |||
| Support | S1 | 0.717 | -0.569 % | |
| S2 | 0.703 | -2.61 % | ||
| S3 | 0.679 | -5.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.793 | 9.88 % | |
| R2 | 0.782 | 8.37 % | ||
| R1 | 0.763 | 5.71 % | ||
| Current price | 0.722 | |||
| Support | S1 | 0.720 | -0.222% | |
| S2 | 0.712 | -1.37% | ||
| S3 | 0.710 | -1.61% |
FAQ
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