Consolidation area narrowing down for LRW

LRW has been consolidating for weeks now. While Chikou Span and Tenkan Sen line are both showing weak bearish signals, we are anticipating a breakout from the triangle with possible touch to 1.26 per share. This is where our Kijun Sen line is moving horizontally. Notice also that the area where the price moves is narrowing down. This is the best time to monitor and act quickly. A breakout may eventually lead to 1.40 then 1.60 per share while a breakdown will lead to 0.99 per share.

RSI or Relative Strength Index is currently at 44

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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