wave 4 correction might be a bullish flat pattern.
volume peaked on major resistance area which indicate a downturn.
*not a trading tips. wave count might be wrong.
Down trend in LOVISA may be coming to an end as a diamond bottom pattern has formed which is due to break this week.
Watching closely for a break out bar of the resistance line at approx $19.50 mark with above average volume.
Text me if you have any questions/comments for me.
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LOV
- Previous video analysis was done on 10 and 11 Oct (red arrows) – suggested waiting for a successful rebound around $21.50 before plotting entry if believe the stock can create new all-time highs
- Since then, the stock has successfully rebounded and has created a new all-time high
- Stock is...
Not the kind of stock I would normally trade, but I know that Angie Ellis an Aussie trader with a pretty good comp track record is bullish on it. Earnings came out today and the market has been supportive. It is at an interesting resistance area and with a break above it could potentially run for a bit. Worth a watch.
Market Capitalization $1.275B
EBITDA (TTM)...
Looking at shorting Lovisa,
2 signs. Although its on a very strong bull trend, however we can see from volume price analysis
There is strong resistance forming with 2 Doji companied with high volume which signified potential
hidden selling taking place.
Unless fresh buying power is coming in, Lovisa might be due for a correction towards the immediate support...
LOV has been a great name last few months. Held MA's nicely and looking to push here. Traditionally best time of the year for the business with Christmas sales on the way
