Libstar (LBR) is a recently listed decentralised food and beverage company that specializes in producing "consumer packaged goods." The company successfully raised R3 billion in an initial public offer (IPO) in May 2018. Libstar boasts ownership of prominent brands like Denny, a leading mushroom supplier, and Lancewood, renowned for its dairy products and other...
These Penny type stocks are very difficult to analyse technically.
There is little volume, high volatility and almost no liquidity.
You can see this by jumping candlesticks between ranges (bids and offers).
So we can deduct a few things but with less certainty than with Blue Chips.
1. Downtrend broken
2. Price ready to break above 200MA - Bullish trend
3....
Libstar (LBR) is a recently listed decentralised food and beverage company producing "consumer packaged goods" which raised R3bn in an initial public offer (IPO) in May 2018. It owns the Denny brand which is a leading mushroom supplier, and Lancewood which is known for dairy products and other food brands. Altogether it makes over 9000 products and has launched 88...
Libstar (LBR) is a recently listed decentralised food and beverage company producing "consumer packaged goods" which raised R3bn in an initial public offer (IPO) in May 2018. It owns the Denny brand which is a leading mushroom supplier, and Lancewood which is known for dairy products and other food brands. Altogether it makes over 9000 products and has launched 88...
It seems there is some buying in Libstar indicated by high volume days pushing the price higher at the oversold line. There is also negative divergence with the volume RSI and a well established upward stride.
