$LAC about to break out?

I've been watching LAC for a LONG time. I've traded this one in the past.

We fell all the way back to a major support zone from all time highs, and we also landed right on the long 13 year trend line for a 5th test.

Now, I typically dont take trades off trends that have been tested 4 times or more. But, in this case, our monthly trix is green, after hitting that trend and major support, and we also have volume capitulation showing up on the monthly chart, as well as the quarterly. (Not shown.)

As far as pattern, our initial break out move was a nice engulfing candle, and we did in face break the upper monthly band, the white moving averages that follow the tops and bottoms of the candles.

What you look for from here is a pull back to the opposite side of the bands, aka, the lower monthly band for a "first touch," this is where you enter, and is where I bought at $2.79.

First target is the upper quarterly band at $4.25. From there, you have the 1.27 Fib at $6.75, and the 1.61 at $9.25

I will likely exit 75% of my position at $6.25.

I feel like this one is worth watching. I will be really surprised to see this one fail from here.

Stay tuned.