Hello all,Long time no see, havent checked up on LEG forums for...

Hello all,

Long time no see, havent checked up on LEG forums for a while and more active on the others as its firmly in the bottom drawer for me.

Looks like we are well away from 3.6 cents that that was barely holding the last time I posted and upside coming back in play over the medium-term.

Lets look at how LEG has done so far and what can we expect from here on potentially -



Volume - As noted on the chart, volume has just been hovering around its steady state of about 5-15 million shares changing hands everyday. Really just 'ebbs and flow' stuff here and reshuffling of portfolios while investors wait patiently for further updates on the drill results - NEUTRAL tending BULLISH as we volume levels with SP are holding nicely so BULLISH overall in my view.

Fast Stochastics - Bullish crossover from last week would have been my signal to buy if I was watching on the sidelines and it certainly would have been a good place to buy as it has held strong over the past few days. Its positive divergence with the price of the underlying security also point that this stock has not performed (technically speaking) as good as it could have - "watch this space" would be my comment here - BULLISH

MACD - MACD is still living in the bearish crossover from 2.5 weeks ago and the divergence has appeared to reached its peak. The positive crossover from the more sensitive F Stochs and its positive divergence, suggests that we may have reached a turning point here for a uptrend and crossover in the bulls' side of the farm - BULLISH

RSI - around the 55 mark up from the low 50s suggesting that although we have had a bit of a mild swing up over the past few trading days, it is not affecting momentum much - still plenty of fuel in the tank for some +ve anns - NEUTRAL

Candle - Hanging man suggesting that we were on a road south but that the SDL ann may have brought us some gas in the tank..as the excitement from that wears off expected further tests of the 5.5 mark in the ST.

Tea leaves reading/ Star Gazing/ Crystal Ball - Even if drilling results are not released this Quarter, any positive results and milestones achieved by our bigger brother will flow down to LEG like the proverbial fountain of champagne (not so proverbial for some), expect seeing 5s in front of the SP as myth of the past to tell your grandchildren as the drill cores come out.

What I said a few months ago that we are only (and pretty much still) at the ground floor here, still stands - the true upside has yet to come.

And Razman, if you're still here and holding, I'm still remembering that beer you owe me :)

Hope to see you guys around back again, otherwise I'll see you all on the other forums, good luck all! :)

Foxtrot