LXS kept trading in a range between roughly 59 and 65 since December 2020. This friday, the markets dipped and took LXS with them. Initially I wanted to start looking for a long position around 59.50 but the stock broke that 59 support. So now I'm looking at a stop/loss around 57.30, the little plateau back before it entered the 59-65 trading range, hoping for a...
Pending descending triangle breakout for German specialty chemicals firm Lanxess (LXS, €63.96 ). The structure roughly 68% complete.
Setup is similar to the ones recently seen in South Africa's Multichoice & Capitec Bank.
Bullish divergences, positive News, high Volume. I'm entering long here and hold for a couple of days checking for the appearance of new divergences or any other sign that help me to decide when to close.
Not financial advice intended. I post my Ideas basically for myself to practice my technical analysis and follow the price progress.
