Cettire Ltd. (ASX: CTT)

Cettire Ltd. (ASX: CTT) is a global online retailer based in Australia. The company provides a variety of women’s and men’s wear. The current market capitalization as of 17 February 2023 stood at AUD 596.63 million.

Technical Analysis: On a daily chart, CTT prices broke an upward sloping trend line by downside and the prices are sustaining below the breakout level from past three trading sessions. Moreover, the momentum oscillator RSI (14-period) is trading at ~42.107, indicating bearish momentum for the stock price. An important support level for the stock, is placed at AUD 1.300 while the key resistance level is placed at AUD 1.850.

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.

Considering the Company's current price levels trading below the trendline, and momentum oscillator analysis, it is prudent to recommend a 'Watch' rating on this stock. The stock was analysed as per the closing price of AUD 1.555 per share on 17 February 2023, down by 0.638% from the prior closing.

Daily Technical Chart – CTT

Lanthanein Resources Ltd. (ASX: LNR)

Lanthanein Resources Ltd. (ASX: LNR) is an Australian-based exploration company engaged in the evaluation and exploration of Gold, Silver, Copper, Lead, and other base metals. The current market capitalization as of 17 February 2023 stood at AUD 22.43 million.

Technical Analysis: On a weekly chart, LNR prices were trading in a falling wedge pattern and the prices broke the pattern by an upside in January 2023. However, prices are now taking resistance of its 21-period SMA that indicates the prices might fall further in the coming period. Moreover, the momentum oscillator RSI (14-period) is hovering at ~38.765, indicating bearish momentum for the stock price. An important support level for the stock, is placed at AUD 0.017 while the key resistance level is placed at AUD 0.024.

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.

Considering the Company's current price levels trading below the trendline, and momentum oscillator analysis, it is prudent to recommend a 'Watch' rating on this stock. The stock was analysed as per the closing price of AUD 0.020 per share on 17 February 2023, settled unchanged from the prior closing.

Weekly Technical Chart – LNR

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

Note 1: Past performance is not a reliable indicator 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.

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 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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