LTG looking for another support after breaking from the 61.8% Fibonacci Retracement level

The bulls where not able to contain the bears on LTG. Price fell today below the support line 61.8% Fibonacci Retracement level. This might continue to fall and find support at 16.75 per share. Once it is near that price we will see if there will be a good candlestick formation. Today’s movement shows a weak bearish signal via the Kijun Sen cross. This line will act as our immediate resistance.

RSI or Relative Strength Index is at 38.

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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