LC bullish after the drop. Did it hit the bottom already?

The 0.50 target (LC’s headwind done. Looks like the sky is clear?) has since been compromised when LC’s Kijun Sen line on weekly chart bent and change its movement. But recent development is giving us an opportunity to profit from LC as it might reach 0.48 from current price. Notice how the Kumo support the price and Kijun Sen line on daily chart is current pointing upward which suggests that its power to attract the price from moving further down is weak.

The recent drop has also made it attractive as RSI or Relative Strength Index is now at 45, down from 74 when price hits 0.44

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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