Livent Corporation

Livent Corporation (NYSE: LTHM) is a completely incorporated lithium organization. The Company makes lithium for use in a range of lithium products, primarily in lithium-based batteries, speciality polymers and chemical synthesis applications. Noted below are the key price indicators for the stock:

Technical Observation (on the Daily Chart)

On the daily chart, LTHM’s prices are facing horizontal line resistance around USD 26.50. The leading indicator RSI (14-period) is moving above the mid-point and is showing a reading of ~62.99. The CMP is above the trend-following indicators 21-period and 50-period SMA, which may act as the support levels for the stock. 

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on Livent Corporation at the close price of USD 25.93 (as of August 02, 2022). The individual 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.

Allogene Therapeutics, Inc.

Allogene Therapeutics, Inc. (NASDAQ: ALLO) is a biotechnology company that commercializes genetically engineered allogeneic T-cell therapies for cancer treatment. Noted below are the key price indicators for the stock:­­

Technical Observation (on the Weekly Chart)

ALLO's price witnessed a breakout of the falling trendline and now facing stiff resistance from 50-period SMA. Moreover, the recent rally in stock is not supported by volumes, indicating the possibility of correction on the downside. The leading indicator RSI (14-period) is showing a reading of ~54.161 and heading southwards. However, the CMP is above the trend-following indicator 21-period SMA, which may act as the support zone for the stock.

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on Allogene Therapeutics, Inc. at the Close Price of USD 12.51 as of August 02, 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. 

ObsEva SA

ObsEva SA (NASDAQ: OBSV) is a biopharmaceutical company focusing on developing and commercialising therapeutics for women suffering from reproductive health and pregnancy problems. Noted below are the key price indicators for the stock:­­

Technical Observation (on the Weekly Chart)

OBSV stock price is trading in a sequence of lower highs and lower lows and facing the resistance of a long-term downward sloping trendline, indicating an overall downtrend of the stock. Moreover, the leading indicator RSI (14-period) is in the oversold zone and is showing a reading of ~24.462. Further, the CMP is above the trend-following indicator 21-period SMA and 50-period SMA, indicating the weakness in the stock.

As per the above-mentioned price action and technical indicators analysis, a ‘Watch’ rating has been given on ObsEva SA at the Close Price of USD 0.224 as of August 02, 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. 

Note:1 Related Risk: This report is 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.

How to Read the Charts?

The Green colour line reflects the 21-period simple moving average (SMA) while the red line indicates the 50- period simple moving average (SMA). SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black 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.

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume as liquidity in stocks helps in easier and faster execution of the order.

The Orange colour lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance. 

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 reference date for all price data, currency, technical indicators, support, and resistance levels is August 02, 2022. The reference data in this report has been partly sourced from REFINITIV. 

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar 

Note: Trading decisions require a thorough analysis by individual. Technical reports in general chart out metrics that may be assessed by individuals before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.