lpd share price, page-235

God it's nice to have a green day again!

But, trying my hand at some TA, I'm not quite ready to start popping the champagne corks just yet.

Here's the chart since last December as I see it:



There's a series of progressively flattening trendlines that have been broken by small bounces and/or sideways action. That shouldn't be a surprise to anyone who has been following along the last six months, as we all know the stock fell rapidly and then has slowly coasted lower, with a little bit of a bump on the S-Max announcement.

Where I'm still not sure is the conflicting TA messages. On the negative side, the blue and black lines meeting shows the 50-day XMA crossing below the 200-day XMA, which isn't a great sign. At the same time, today's jump has only poked back up towards the latest trendline, and hasn't gone through it. There also wasn't a huge amount of volume (8.3m shares across ASX and Chi-X),

On the positive side, the pattern of yesterday's doji cross with today's engulfing candle is a nice little reversal pattern, albeit small. Also, while the small volume makes it hard to draw conclusions, the average daily volume has increased lately, so this may be the start of a turnaround.

What I will be looking for to confirm a reversal is a strong close above 4c on volume greater than 10m, ideally closer to 15m. That would have broken the trendline and crossed above the 200 and 50 XMAs, which would be great.

Shall have to wait to see what next week brings. I only play around with TA as I try to pick the bottom while I wait for the fundamentals to develop, so happy to hear other people's thoughts on this.

I will be a little annoyed if I've missed this bottom, but a rising share price will soothe that irritation

Have a good weekend all. New financial year should be very interesting.

Cheers