LT (Finally time to Shine or is there more pain left ?)
LT has formed a good consolidation pattern in an hourly/daily time frame. The stock has been under pressure for a while now due to the pandemic woes hitting its operations for over half a year now.
The stock was consistently forming a lower low and lower highs for the last few weeks, however in the previous 2-3 weeks the stock has formed a higher low as marked by the green arrows and is not at a juncture from where it has the potential to form a higher high confirming a bullish bias.
920 is a crucial zone to breach post which a new bull trend should resume.
We can even see that there is a possibility of a golden crossover in the EMA's (9 EMA (GreenLine) crossing the 200 EMA (Red Line) from below) indicating bullish optimism. Any breach of the Triangle should give a good momentum move either way.
Results season is starting from tomorrow and that might play a role nullifying the Technical Impact so trade with caution.
The stock was consistently forming a lower low and lower highs for the last few weeks, however in the previous 2-3 weeks the stock has formed a higher low as marked by the green arrows and is not at a juncture from where it has the potential to form a higher high confirming a bullish bias.
920 is a crucial zone to breach post which a new bull trend should resume.
We can even see that there is a possibility of a golden crossover in the EMA's (9 EMA (GreenLine) crossing the 200 EMA (Red Line) from below) indicating bullish optimism. Any breach of the Triangle should give a good momentum move either way.
Results season is starting from tomorrow and that might play a role nullifying the Technical Impact so trade with caution.