22-June-2024 : Keeping It Simple with Price Action & Technical Analysis.
This stock showed up in my screener, and liked the chart and price action. Putting out my analysis objectively using Point & Figure. ** I do not own this stock, and my analysis may have mistakes and incorrect. So please DYOR and always use a Stop/Loss..
* Using P & F with a box size of 0.15 on a Daily chart. * The stock has been in a long term uptrend. * After making a breakout in Oct'2023 ( shown by the long "X" Anchor column), the stock went into consolidation and on 21-Jun-2024, we saw creation of a fresh "X" column signalling a "probable" resumption of its uptrend. This will be confirmed once it does a double top buy around the ORANGE zone immediately above it. * If it crosses the Orange zone, and remains above the BLUE line, then I am forecasting an immediate price target of around 16, based on the open Anchor Column count. [ If we see behind, then the last target anchor count has already been met ].
LYL Price at posting:
$12.54 Sentiment: Buy Disclosure: Not Held
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