Verified Investing on $LITE (Oct 30, 2026)
LITE fell 9% today and the speaker expects further decline toward pivot support near 602, the psychological 600 level and a gap fill at 599.50; RSI at 43 leaves room to fall, with earnings next week an added factor. Price is now bouncing off converging support around 765 and an upward trendline.
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Okay, two more, guys, stick with me. Looking at " LITE", it also dropped by 9% today. Good. Or, moving on here, folks, we see a bear trap for sale. We see the price rising here.
Traders who are prepared believe it will continue to rise. But we are not getting close to filling that gap. We are stopped and down by a 9% gap. So, where will LITE find some support?
We come directly here. We have this pivot shelf support level here at 765, with this upward trend line. This line is from October 22, 2025. The price is clearly rejecting here , bouncing off the support level.
Yes, right at this level, around 765, these support factors converge.
Good. Will we see a further decline? I can see the price heading towards this pivot support level here on LITE at around 602, close to the psychological support level of 600, as well as filling this gap below at 599.50.
Good. The Relative Strength Index (RSI) is only at 43, so it still has some momentum to fall. And of course, we have the earnings announcement next week.
What this channel has said about $LITE
Verified Investing has 8 calls on this stock; only the adjacent ones are shown.