$Lovisa Holdings Ltd (LOV.AU)$ shares fell 7.08% on Monday, with trading volume expanding to A$27.43 million. Lovisa Holdings has fallen 13.97% over the past week, with a cumulative gain of 28.43% year-to-date.

Lovisa Holdings's technical analysis chart:

Technical Analysis:

• Support: A$29.70

• Resistance: A$36.94

• Price range A$29.70 to A$36.94: The trading range indicates a heavy concentration of selling orders, with the stock price on an downward trend. There's a high concentration of trapped positions within the trading range, which implies strong resistance to any upward movement. The stock started to decline near A$36.94 due to selling pressure and repeatedly tested the A$29.70 level, where it seems to find some support. Going forward, it's crucial to watch whether the support at A$29.70 holds and if it can lead to a potential rebound.

Market News :

• Lovisa Holdings previously stated that its highly regarded CEO, Victor Herrera, will step down next year. Herrera has extensive experience in developing global brands and has played a significant role in Lovisa Holdings's ongoing global expansion. His departure will be a huge blow.

• Morgan Stanley maintained a buy rating on Lovisa, setting a target price of A$37.00. Wilsons  maintained a buy rating on Lovisa, with a price target of A$35.50. Citi analyst Sam Teeger maintained a hold rating on Lovisa Holdings and set a price target of A$32.16.

Overall Analysis:

Fundamentally, focus on the company's performance and operational status. Technically, pay attention to whether the support levels hold and if the resistance levels can be effectively breached.

In this scenario, investors should adopt a cautious strategy, setting stop-loss points to manage risk and maintaining ongoing vigilance regarding company developments and market conditions.

Source: Lovisa Holdings, Bloomberg