Lovisa (LOV)

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Lovisa (LOV): Signals

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TECHNICAL ANALYSIS SUMMARY

Lovisa (LOV.AX)


Indicator:

FIBONACCI FANS


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Lovisa (ASX:LOV) : The current Fibonacci Fan levels are:
(23.61%) $9.72
: (38.2%) $10.29
: (50%) $10.76
: (61.8%) $11.22

The current support levels are:
(78.6%) $11.87
(100%) $12.7
(138.2%) $14.19
(161.8%) $15.12
(261.8%) $19.02
(423.61%) $25.33



Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;


PROFILE: Lovisa (LOV.AX)


Stock Exchange: ASX
Company: Lovisa
Ticker Codes: | LOV.AX | ASX:LOV |

About Lovisa (ASX:LOV):

Lovisa Holdings Limited operates as a fashion jewelry retailer. It designs, develops, sources, and merchandises fashion jewelry and accessories under the Lovisa brand name to fashion conscious females aged 25-45. As of July 2, 2017, the company had 288 retail stores in operation, including 23 franchise stores. It operated stores in Australia, New Zealand, Singapore, Malaysia, South Africa, and the United Kingdom; and franchised stores in the Kuwait, the United Arab Emirates, Oman, Bahrain, and Saudi Arabia. Lovisa Holdings Limited was founded in 2010 and is based in Hawthorn, Australia.

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