LBL - Technical Analysis. If this then that
LBL has capitulated out of the ascending triangle it was forming on the 382 fib.
Has found support on monthly OB and 618 level, and forming daily/hourly bull div on this level. Likely false breakout to bottom. Weekly RSI moved into oversold. Monthly RSI below 50. Expecting recovery.
Entry here possible with very tight stop for LTF trade, probably back to retest $0.75 - $0.81 before a move either way. personally ignoring for me, sticking to HTF.
If it reclaims 0.382 within pattern, look for Long entry for strong move to the upside. If retest occurs, re-asses at expected bottom - $0.65 to $0.55
Long targets - $1.03 / $1.27 / $1.5
Has found support on monthly OB and 618 level, and forming daily/hourly bull div on this level. Likely false breakout to bottom. Weekly RSI moved into oversold. Monthly RSI below 50. Expecting recovery.
Entry here possible with very tight stop for LTF trade, probably back to retest $0.75 - $0.81 before a move either way. personally ignoring for me, sticking to HTF.
If it reclaims 0.382 within pattern, look for Long entry for strong move to the upside. If retest occurs, re-asses at expected bottom - $0.65 to $0.55
Long targets - $1.03 / $1.27 / $1.5
Penafian
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