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LWL.N
01. Prices are closing above the 30 WMA.
02. 10 WMA is inclined towards crossing the 30 WMA.
LWL will be bullish in upcoming days. LWL needs to close daily candles above 50+ (above 50, 200 MA lines)
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Nothing much, breakout retest currently happening. Bullish divergence intact.
For new traders, 47.5 will be a risk free entry point.
However breaking 52.8 will make the counter flip towards bullish path.
The stock has broken above the descending trendline resistance, but has found resistance at 52.80 levels. It is possible that the stock is in the process of creating an inverted head and shoulders pattern. If that's the case, we may see the price finding support around the 10-day and 30-day moving averages around 50 levels. Eventually a breakout above the neckline...
With the existing indication of a bullish divergence on the RSI, a breakout of the stock price above the descending trendline resistance at 50 would signal a bullish reversal. Traders may consider setting their stop-loss below 47.50.
