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


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