wave 4 correction might be a bullish flat pattern. volume peaked on major resistance area which indicate a downturn. *not a trading tips. wave count might be wrong.
Will be interesting to see if this breaks resistance at around $23.00.
Down trend in LOVISA may be coming to an end as a diamond bottom pattern has formed which is due to break this week. Watching closely for a break out bar of the resistance line at approx $19.50 mark with above average volume.
Text me if you have any questions/comments for me. ----- LOV - Previous video analysis was done on 10 and 11 Oct (red arrows) – suggested waiting for a successful rebound around $21.50 before plotting entry if believe the stock can create new all-time highs - Since then, the stock has successfully rebounded and has created a new all-time high - Stock is...
Entry: 9.29 Stop loss: 8.91 Broke out with good volume after a long period of consolidation. Trade with the odds in our favour consistently.
Not the kind of stock I would normally trade, but I know that Angie Ellis an Aussie trader with a pretty good comp track record is bullish on it. Earnings came out today and the market has been supportive. It is at an interesting resistance area and with a break above it could potentially run for a bit. Worth a watch. Market Capitalization $1.275B EBITDA (TTM)...
Looking at shorting Lovisa, 2 signs. Although its on a very strong bull trend, however we can see from volume price analysis There is strong resistance forming with 2 Doji companied with high volume which signified potential hidden selling taking place. Unless fresh buying power is coming in, Lovisa might be due for a correction towards the immediate support...
A retest of the initial breakout level would be ideal for an entry
LOV has been a great name last few months. Held MA's nicely and looking to push here. Traditionally best time of the year for the business with Christmas sales on the way