Capra
Long

LMI - Watch for Bottom of Channel.

LSE:LMI   LONMIN PLC ORD USD0.0001
97 4 5
5 wave move down and approaching bottom of channel. I will be waiting for a first attempt trade @ 83.5
Thanks for your tip I bought in at 84p after consideration with other tecb analysis its very oversold.
Is this the suggestion that wave 2 is completed and bottomed at 80p which in fact it appears to be 78% fib line from first wave 35p to 250p. I am expecting a rise towards top line of the channel. Potentially Wave 3 could be in the making perhaps provided factors are in order such as production and plat price?


+1 Reply
Capra r88ave
@r88ave, Hi and thanks for your comment.Yes could be wave 3 to the higher degree, however I do expect a 3 wave move with a price target of 170-190
Reply
r88ave Capra
@Capra, Hi could be an interesting week, daily gap is filled at 86p on Friday but it didn't do much thereafter probably cos late friday. Edit - just realised there's very small gap between 82-84p to be filled as well. Will be watching closely to see what it does. whether wave 2 is complete.Luckily I sold out at 98 earlier in week, the trend was changing, and I knew the gap needed filling.
LMI is great share to trade.



Reply
Capra r88ave
Hi @r88ave, Same view here. I'm waiting for lower gap fill entry with stop just below recent low. If 80.5 breaks then I see 76p. Platinum looks like some potential upside to me also
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