Waiting on drill results LKE weekly chart shows (for me) at critical support. A break of 10.5c would see a test of .07c as the next support zone. Currently the stock is in (for me) a NO buy zone with directional volume support showing negative pressure on the stock. However, it is important to note that selling volume of the last two weeks has been reduced. Indicating many holders are reluctant to sell.
A break and base formation at 16c is needed to gain further momentum. Two scenarios are in play at the moment. First, a break of 10.5c and test of 0.07c. Second, support at 11.5c with a test go 16c moving to 16c as support. Positive drill results will see scenario two play out with continued lack of information leading to scenario one. In any event now is not the time to be buying. Wait for a test of 16 with supporting volume.
