LTG still consolidating

LTG may continue to consolidate inside a small triangle formation while the Kijun Sen line is moving horizontally. LTG can’t fly as the line keeps on attracting the price. The line is also near the 23.6% Fibonacci Retracement level which acts as support. In case price will soon break from consolidation, its spike can be seen to peak near 22.50 per share or the 61.8% Fibonacci Retracement level. If LTG will turn sour, it may fall back to 15 then 13. I think it is best to test buy near the support and Kijun Sen line.

RSI or Relative Strength Index is at 48

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.

One Response to LTG still consolidating

  1. […] broke the triangle this week after consolidating for few weeks (LTG still consolidating). It close at 18.70 which is near the 38.2% Fibonacci Retracement level that acts as resistance. So […]

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