LTG needs to break the resistance at 78.6% Fibonacci Retracement level

LTG went up by 1.7% last Friday to close at 15.22 which is around our resistance area at 78.6% Fibonacci Retracement level. We have our weak bullish signal via Tenkan Sen / Kijun Sen Cross but Chikou Span needs to go above the price to add bullish signal to LTG. This will be achieved if price will go above 15.26 per share.

For weekly chart, we are still seeing the Kijun Sen line moving horizontally at 16.94 per share. This tells us that there is still potential for LTG to hit that area.

RSI or Relative Strength Index is currently at 67 on daily chart and 42 on weekly chart.

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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