Very rarely will i do back to back posts BUT this is to good not to.
ASX:LPD Daily TF 2017/2021 similarities.
Purely looking at the Technical Analysis Similarities between 2017 Rally and the 2021 (Current) Rally.
RSI (Standard) Currently looking at Bullish swing and break of downtrend from almost the EXACT same level as 2017 before break of short-term downtrend.
MACD EMAs flattened above the midway mark before Bullish Volume entered and spread violently and Histogram reprinted Bullish Sentiment.
Price in 2017 bounced off the Fib Retracement "Golden Pocket" 0.5-0.618 before continuation, We have recently bounced off the Fib Retracement 0.382 (which usually incurs a more Bullish continuation move).
Trend Based Fib Extension of 2017 identified potential levels of retracement/profit taking at levels 0.618, 0.786, 1.0 and 1.618 (which is where it eventually found resistance/sell off on the way up on the Daily) for a +100% gain before a major blow off at the top touching 8.2c. Current TB Fib Extension targets are also highlighting a 90% rally to the top (1.618) although resistance will most definitely be found along the way.
Bullflag Target as a measured move aligns perfectly with Former high of 8.2c, which indicates a region of profit taking.
Will it happen over a single trading week as it did in 2017? IMO No, but I won't be complaining if it did as I'd suggest no other holder would be either.
Coincidence or not, I think based on historical data things are shaping up well.
NOTE: If the continuation pattern fails then a retrace back to a Daily support of 0.043 is likely. IF JW drops the OT bombshell then a price above my completion will be hunted.
I'm just hoping that the "sharks" have filled the bags over the last year and are ready to make an extreme profit.... GLTAH DYOR
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