LKE chart, page-923

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sowens

4,995 Posts.

1815

13/03/22

12:34

Post #: 60162413
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Originally posted by Rooster100: ↑

Hi all, only looking at the LKE chart because it was mentioned on the CXO chart thread, and wow what a stellar chart it is! Pity I'm too scared to buy anything once it has already put in a few vertical days- short term thinking only, but I still like to get in on a pullback to allow tighter stops etc.

On the other hand, it still looks really strong. On both the daily and weekly chart there was some nice bullish divergence appear just before this move up and eventual break of the consolidation wedge that began in November. There's been a bit of supply drawn out over the last two days as shown by the closes off the high, which must be some "early" profit taking but nothing really dramatic. This has caused my main momentum indicator to back off a bit on the daily, but there's still plenty of room before it gets maxed out and things are only just getting started on the weekly. And really it has only just broken up past the previous ATH so nothing but blue sky above. And there's a simple measured move target from the breakout of the wedge at about $1.46 so there is still potential for plenty more upside move before serious profit taking might force a pullback or sideways consolidation of some sort. At that point price would have climbed back inside a trading channel that was in place before the wedge began to form and trading from an even better position of strength. Hmmm, here's a daily and a weekly chart for your infotainment while I sort myself out! Good luck all, Rooster.

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Thanks Rooster100 for the chart. I have put my immeasurable charting skills to said chart, and I'm confident to announce that the chart has travelled in an upward trajectory. Yes, there's no doubt in my mind it's definitely up.

LKE Price at posting: $1.29 Sentiment: Buy Disclosure: Held
17 Upvote

0 Great analysis

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