Kijun Sen Cross on LTG

LTG went up by 4.7% today closing above the Kijun Sen line but short in breaking up from the Kumo. Still it is suggesting bullish bias as we have a neutral bullish signal coming from Kijun Sen Cross. Will it continue to move upward this coming days? While the weekly chart still has the threat from Kijun Sen line, our daily chart shows that we still have some room for LTG to go upwards before hitting the resistance slope. For those who are holding LTG, this is the area where you need to check. If we will see a bearish signal then that will be our cue that LTG will retrace again as it move within the downward channel. If we will not see bearish signal then LTG may continue to go up and challenge the 19.40 resistance.

RSI or Relative Strength Index is currently at 66 based on a 10-period setup.

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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