Technical Analysis on These ASX-Listed Stocks–LVT, FLC, HT8

Company Overview: LiveTiles Limited (ASX: LVT) focuses on delivering software-as-a-service solutions, which specialise in creating and selling employee experience software that promotes employee collaboration and communication. Fluence Corporation Limited (ASX: FLC) offers decentralized and packaged water and wastewater treatment solutions, consisting of two main divisions: Operating Units and the Product & Innovation Group. Harris Technology Group Limited (ASX: HT8) focuses on providing information technology/consumer electronics products for small and medium businesses in Australia. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

LVT’s Technical Analysis:

LVT's price is currently testing the lower boundary of a falling wedge pattern, indicating a positive bias and suggesting the possibility of a short-term recovery in the near future. Furthermore, the RSI (14-period) is showing upward movement from the oversold region after forming a bottom divergence relative to prices, supporting a positive bias. The price is currently trading below the 21-period SMA, which might serve as a resistance level. In contrast, the pattern's lower boundary may act as a support level for the stock. An important support level for the stock is at AUD 0.011, while a key resistance level is at AUD 0.013.

Daily Technical Chart – LVT

Considering the company’s current price levels forming a falling wedge pattern, and technical indicators analysis, a 'Speculative Buy' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.012 per share, as on 07 Jun 2023, down by -7.69%. LiveTiles Limited (ASX: LVT) was last covered in a report dated '09 March 2022'.

FLC’s Technical Analysis:

FLC's stock price is currently exhibiting a symmetrical triangle pattern, characterized by lower highs and higher lows, suggesting that the stock's trading range is likely to continue in the near future. In addition, the RSI (14-period) is trading close to the midpoint, further supporting a sideways direction. The stock's price is oscillating between the upper and lower boundaries of the pattern, which can be considered potential levels of resistance and support. An important support level for the stock is AUD 0.165, while AUD 0.200 represents a key resistance level.

Daily Technical Chart – FLC

Considering the company's current price levels forming a symmetrical triangle pattern and technical indicators analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.185 per share as on 07 Jun 2023, up by +2.78%. Fluence Corporation Limited (ASX: FLC) was last covered in a report dated '31 March 2022'.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

HT8’s Technical Analysis:

HT8's price is currently exhibiting a descending triangle pattern, characterized by lower highs and identical lows, suggesting that the stock's trading range is likely to continue in the near future. Moreover, the RSI (14-period) is trading close to the midpoint, further supporting the sideways movement. The stock price is fluctuating between the upper and lower boundaries of the pattern, which might serve as potential resistance and support levels for the stock. An important support level for the stock is AUD 0.013, while AUD 0.016 is a key resistance level.

Daily Technical Chart – HT8

Considering the company's current price levels forming descending triangle pattern and technical indicators analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of AUD 0.014 per share, as on 07 Jun 2023, down by -6.67%. Harris Technology Group Limited (ASX: HT8) was last covered in a report dated '02 September 2022'.

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest, taking into consideration the risk-reward scenario.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is June 07, 2023. The reference data in this report has been partly sourced from REFINITIV.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

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