LIT has done very well since my last idea. As you can see we are comfortably sitting over $14! Not bad right? :D
We appear to be in a very nice ascending channel on the way up on leg 3 which is always the longest and largest... using a nice Fib extension we see that if this holds true, we can easily go to $30 before any sustained correction back to $18.
On this road to heaven, we have a few bumps. The first one is at $16-17, then the channel mid-point around $20 and lastly the top at $30 where I would expect a rejection if we make it there before pushing higher still.
LIT is a great long term hold at least until summer, therefore, don't rush to sell because this chart is anything but bearish. Have a plan, have a strategy, take profits at key levels.
This path here ends at $60, LIT can go higher this year and this path may not look like this in a month, however, LIT will continue to grow, especially due to its low circulation supply.
Enjoy the profits!
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