LIC
- First time doing a written analysis on LIC
- Stock has a good history of uptrends
- 1st resistance (purple dotted line) – consolidated sideways for 4 months while still somewhat respecting the mid-term support
- 2nd resistance (blue line) – consolidated sideways for 1.5 months while still somewhat respecting the short-term line
- After breaking out, stock has had weak tests of the short-term support
- Today’s nice bullish pin bar after a strong test of the short-term support is accompanied by above average volume -> good
- After seeing today’s price action, I was tempted to get into the stock
- Unfortunately, there is no good setup for entry unless you use intraday strategies
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a better setup for entry
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Text me if you have any questions/feedback for me.
- First time doing a written analysis on LIC
- Stock has a good history of uptrends
- 1st resistance (purple dotted line) – consolidated sideways for 4 months while still somewhat respecting the mid-term support
- 2nd resistance (blue line) – consolidated sideways for 1.5 months while still somewhat respecting the short-term line
- After breaking out, stock has had weak tests of the short-term support
- Today’s nice bullish pin bar after a strong test of the short-term support is accompanied by above average volume -> good
- After seeing today’s price action, I was tempted to get into the stock
- Unfortunately, there is no good setup for entry unless you use intraday strategies
- R is more than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a better setup for entry
-----
Text me if you have any questions/feedback for me.