the next cycle low will run until November next year. If this next cycle fails to produce a trend then it's a waiting game until the next cycle, however if that scenario plays out the range should expand resulting in higher targets.
There are two fib time ratio's that produce strong trends, the cycle just about to commence is one of them.
One strategy which typically produces good results is to place a horizontal line from the high of the bar of the 15th. Use slow stochs, typically between 35 and 45, buy signal occurs through twenty provided the signal occurs above your horizontal line. I have a number of other criteria that needs to be met however the above will give you something to play with.
If the cycle bar fails to provide support it's an indication the cycle won't produce a trend.
The same strategy on LYC safely returned around 260% on its decline from 2011.
Cheers
LYC Price at posting:
7.2¢ Sentiment: None Disclosure: Not Held
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