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Is a Correction Looming Ahead for Lytus Technologies Holdings PTV. Ltd. (LYT)

Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) went up by 13.72% from its latest closing price compared to the recent 1-year high of $47.06. The company’s stock price has collected 29.10% of gains in the last five trading sessions.

Is It Worth Investing in Lytus Technologies Holdings PTV. Ltd. (NASDAQ :LYT) Right Now?

Lytus Technologies Holdings PTV. Ltd. (NASDAQ:LYT) scored a price-to-earnings ratio above its average ratio, recording 78.75 x from its present earnings ratio.

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LYT currently public float of 7.57M and currently shorts hold a 1.06% ratio of that float. Today, the average trading volume of LYT was 5.07M shares.

LYT’s Market Performance

The volatility ratio for the week stands at 21.55% while the volatility levels for the past 30 days are set at 14.33% for Lytus Technologies Holdings PTV. Ltd. The simple moving average for the period of the last 20 days is -19.04% for LYT stocks with a simple moving average of -70.71% for the last 200 days.

LYT Trading at -70.71% from the 50-Day Moving Average

After a stumble in the market that brought LYT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -93.31% of loss for the given period.

Volatility was left at 14.33%, however, over the last 30 days, the volatility rate increased by 21.55%, as shares sank -45.12% for the moving average over the last 20 days.

During the last 5 trading sessions, LYT rose by +29.10%, in comparison to the 20-day moving average, which settled at $3.76. In addition, Lytus Technologies Holdings PTV. Ltd. saw -81.48% in overturn over a single year, with a tendency to cut further losses.

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