There's a a lot of traffic here about LTR having made a pennant pattern. However, it all refers to a daily chart and no such pattern exists on the weekly. My formal trading was that patterns generally require 2 weekly peaks and 2 troughs on each boundary to be considered valid. That's not to say daily patterns don't work - they just don't work as reliably in my book.
While price has broken out of the daily pattern with gusto and presented a possible target of $0.38, in this instance there are other charting methods that confirm that probable target - so pennant or no pennant it looks like having a high profitability of moving up. With LTR being at an all-time high there won't be any unhappy shareholders out there, under water and looking to unload - so little selling pressure apart from a few profit takers. I have a conditional buy on LTR.
New TA/Charting, page-4160
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Last
84.0¢ |
Change
0.005(0.60%) |
Mkt cap ! $2.024B |
Open | High | Low | Value | Volume |
83.0¢ | 86.0¢ | 81.8¢ | $9.765M | 11.69M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
25 | 281065 | 84.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
84.5¢ | 122759 | 41 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 251960 | 0.840 |
14 | 348693 | 0.835 |
19 | 374937 | 0.830 |
13 | 447686 | 0.825 |
17 | 1108530 | 0.820 |
Price($) | Vol. | No. |
---|---|---|
0.845 | 132664 | 34 |
0.850 | 255028 | 13 |
0.855 | 191591 | 7 |
0.860 | 169718 | 6 |
0.865 | 159500 | 8 |
Last trade - 15.40pm 15/10/2024 (20 minute delay) ? |
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