LTG moving sideways within support. No green signal yet

Weekly: LTG’s price is seen below the Kumo which is a bearish signal will all other elements in Ichimoku showing the same sentiment. But will the Bullish Harami be the start of reversal for LTG? As long as green indicators are not yet lighted, entering on this stock is very risky.

Daily: Price continue to move sideways courtesy of the 23.6% Fibonacci Retracement level we showed last time. We were also speculating that a bounce will happen at this level because of the Gravestone Doji but it wasn’t confirmed.

Ichimoku system is telling us that LTG is still in bearish mood with price moving below the Kumo and Tenkan Sen is moving below Kijun Sen. But a rise to 18 may change this mood while breaking down from the support line will add more to the bearish sentiment. The widest distance of the symmetrical triangle is around 6 and the break down price was around 18.

Caveat!

One Response to LTG moving sideways within support. No green signal yet

  1. Slow Stochastic has made a reversal showing good signal since Oct30 moving up together with RSI. The dip has stopped but may not mean breaking out from moving sideways, right?

Leave a Reply