Bounce for LTG or just a fake?

LTG continue to move up today and close above the 38.2% Fibonacci Retracement level. So far it is showing a bounce from the support slope. But will it be able to sustain its rise?

For now, all Ichimoku elements are in red. What we need to watch is the newly found support. If it will hold the price from going down then we will see Chikou Span to register a green light. That might be enough for a spike to reach 18.14 per share but if the support will be broken then LTG may still need to touch 50% Fibonacci Retracement level.

Caveat!

Leave a Reply