Will LTG start to bounce now?

LTG is showing some bullish sentiment after it recovers from the 78.6% Fibonacci Retracement level. The green candlestick following the red one is called a Bullish Harami.

Based on Ichimoku system, the strong bearish signal seen last week via the Tenkan Sen / Kijun Sen Cross is still there but if price will continue to move up and break the immediate resistance at 15.61 per share or 61.8% Fibonacci Retracment level then we will have a bullish signal from Chikou Span.

The Kijun Sen line at 16.94 may also help bring the price up. After that, it would be a challenge for the bulls to break the Kumo. Notice that last time it failed to do so.

RSI or Relative Strength Index is at 35

Caveat!

The following two tabs change content below.

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.

Leave a Reply

}