$Cettire Ltd (CTT.AU)$ shares jumped 11.11% on Friday, with trading volume expanding to A$6.87 million. Cettire has risen 26.43% in the past week, with a cumulative loss of 20.69% year-to-date.

Cettire's technical analysis chart

Technical Analysis

• Support: A$1.76

• Resistance: A$2.41

• Price range A$1.76 to A$2.41: The trading range indicates a heavy concentration of buy orders, with the stock price on an upward trend and strong upward momentum. The trading range has a low concentration of trapped positions, resulting in reduced resistance to upward price movement. The stock price bounced back after finding support near A$1.76. It previously touched around near A$2.41, creating some resistance to further gains. It will be important to monitor whether the support near A$1.76 remains valid and whether the resistance near A$2.41 can be effectively breached in subsequent price action.

Market News

Cettire released its 2024 annual report on September 24, 2024, and announced the appointment of Caroline Elliott as an independent Non-Executive director of the company. The company performed extremely well across its key financial metrics:

• Sales revenue increased by 78% to $742.3 million;

• Adjusted EBITDA of $32.5 million compared with $29.3 million in FY23;

• Net profit after tax of $10.5 million compared with $16.0 million in FY23.

This performance was consistent across the first three quarters of the financial year, with the first half the strongest half ever for Cettire. In FY24, Cettire’s diverse supply chain demonstrated continued growth, providing its ~700,000 active customers with an expansive and enviable selection of online luxury goods.

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: Cettire