lok quarterly results, page-6

technical analysts take note The 6 month chart for LOOK (NASDAQ) highlights a major divergence between the RSI, volume and the price action. Unfortunately I can't reproduce the chart here so you need to go and have a look for yourselves (unless someone can help me out??)

Basically, the uptrend in price action is at conflict with the downward trend in the RSI and also the volume action. Over the past few days we have seen some even stronger price action that, to me, suggests an potential "island cluster reversal" forming. The divergence is a strong indicator that the current trend is coming to an end.

My advice - be very careful enterring a new trade just at the moment.