$LPX has been torpedoed in recent weeks mostly and has overshot to the downside. I am initiating a long position today near weekly support looking for a bounce of several dollars higher. Don't be surprised if $LPX closes green
I think that this is going to reverse at $30. It looks like this stock has buit a resistence at $30
Aside from the expected strong Q4 earnings, due to the hurricaines, we should see LPX fall 9% to 25.11. This current rally isn't doing well, showing a small 3-day consolidation, ATR oscillator confirms a weakening in range after a strong move (range strengthened) down. RSI found support at around 51, this is rather bullish, however price action gives too many...
Take a look at this chart for LPX, a company that makes wood panel siding for homes. It has a market cap of around 4 billion, a P/E of 15.32 and its earnings have grown 271% this year. We are currently in a clear up-trend. The hurricanes have created demand for this company, giving it support for a mid-term move higher over the next quarter. For now, look to buy...
Extreme Oversold, odds definitely favor long trades.
The longer this takes the better it will be, just give me a break of $15 (preferably) or break down of $14.50. Note the drop of on volume as it consolidates at resistance, like a tightly coiled spring!. Im tipping the upside with that inverted Head & Shoulders but either way conformation is needed...
Stock came back to a previous support level and it seemed that buyers overpowered sellers at this support level, and so stock could go up further.
I think this picture speaks a thousand words all by itself. LPX makes plywood, the essential ingredient in building houses and additions. These two usually bounce along to the beat of the same drummer - the health of the housing market. You can see quite a divergence in the two of them here and it appears that LPX is finding it a bit hard to go any lower. It...
Watching the pullback towards a support cluster with the 10/20D close by.