LOTCHEM is currently on the verge of breakout from the declining phase following the appearance of bullish divergence on RSI. It is about to break a lower high and would print a higher high instead, and then start a bullish rally. Targets are mentioned on the chart.
The price action is currently confined within converging trend lines, indicating the potential for a breakout. Consideration may be given to initiating a long position following a breakout from this pattern, with a stop loss set at 18 to mitigate potential losses in the event of a downward break below the channel. Initial resistance is positioned at approximately...
