Not a huge TA Fan, but interesting that Lark is following the rulebook so to speak.
Gapped up and out of range in July on back of announcement re NSR and inventory increasing, as well as strong sales etc etc. Ultimately failed to push through $5.00 on prelim final result to keep the upward trajectory (well it did trade $5.25 but got overrun with sellers) .has since pulled back into prior trading range. this Qtly result coincides perfectly with the wedge... Good Qtly, back through $5.00 and retain current upward trend. Poor Qtly, in theory should retrace all the way back to the big gap it opened up back in July (i.e. back to the prior day close, which was Circa $3.25 - Ouch... )...
Anyway, as noted at the outset, this is a bit of a TA view, I am here fundamentally as an asset play (increasing inventory bank) and export expansion play, with these two over time supporting a takeover of north of $10 (2-3yrs time)... But it is always wise to put the other investing styles hat on to try to figure what they are thinking, and if there is an opportunity in that.
LRK Price at posting:
$4.83 Sentiment: Buy Disclosure: Held
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