chart, page-32

Hey Guys,

Here is the chart of LNC on weekly and daily basis.

I have posted support and resistance levels on the weekly chart to see where price does clutter. As you can see, major support and resistance levels on this stock occur approximately every 0.825 c.... That $1.30 level is quite significant atm on the stock and lets hope it does not break that level otherwise there could be more trouble on the cards. That weekly bar (which is current) has closed in the middle today which indicates indecision between buyers and sellers or rather supply vs demand on the stock... By week end on Friday we should have better idea where it could head towards. I would like to see stock to be within the range of $1.30 to $2.17 and consolidate around that level with some positive news fundamentally than to take next leg up. Otherwise it could get ugly. On both weekly and daily chart I have posted price retracement levels. The stock has broken 50% gann level indicating weakness.... and seems to consolidate at around 61.8% level... Generally what it means is... the stock will not reach the 100% of previous range as there is no strength. On daily chart I have marked some amazing patterns that could have been used to trade the stock very profitably.

Overall, technically the stock seems weak and it does seem there has been massive number of short sellers on this stock. Addition to that stock is very volatile and not significantly liquid it is rather illiquid to a certain extend, and therefore big boys are using it to their advantage to move the price within big ranges... therefore be careful and let the dust settle to see where it will go from here.

Obviously none of this is financial advice, rather only my opinion to help people see in the right direction.

Regards
Zoran