LTC - Bullish Reversal - Buy Under $120
Triple bottom on RSI. Just had an oversold reversal. Triple bottom is ~$120 close.
Looking for a retest of ~$150 and some sideways action between ~$120-$150 before continuing the uptrend.
Bullish trendline continuation.
It appears to have completed its correction and is now going to continue the uptrend.
If we get a daily close below $5.00 soon or a lot of sideways movement over the next few weeks, I will re-assess my long position.
What an unfortunate stock that is being unfairly targeted because it is the new kid on the block.
Right before the last two option expiration dates, the stock was trading in the $14-15 range. On the first option expiration date in December, a short report came out that dropped the stock to approximately $8/share. Nearly a 50% drop. Days after the option...
After two months of bouncing between $6.50 and $7.50, the stock saw lows in the range of $6.20. This occurred on significant volume with earnings occurring in less than two weeks.
From a technical standpoint, the stock appears to have met a new resistance between $6.00-$6.22 (See graph for details). The fibonacci next resistance would be about $5.90, but I...
This should re-test the mid-18s in the next week or two. If it holds again on a re-test, I'd suggest waiting until a high over $22.30 and then buy. It should head for $26-28 at that point to re-test the ATH.
Disclaimer: I hold no position in NLS.