LRS chart, page-1750

So the key level 4.9/5c has given way. LRS is now on the verge of testing a very strong trend line from November, which may explain the depth at 4.5c. This is also the point where this trend line meets the descending one near the highs. Now, the indicators are pushing further to the downside as you can see the MACD pushing lower and the stochastics moving further into oversold territory. A brief comment; fundamentally this drop can be explained by an extreme overextension based on assaying results; the MC was quite high given that the feasibility studies haven't even commenced yet, as the company continues to assess its resource. Simply put, it needs a bounce of the November trendline; I mentioned this weeks ago that this trend line will be of importance again, and we may be in the 4s. If this bounce doesn't happen, around 4.2c is the next significant support since this has been an important pivot for some time, below that, though i have not included it in the chart, is 3.5c followed by some much stronger support at 2.7c. The cup pattern is irrelevant in my opinion; this is going back a bit too much since this stock has undergone multiple fundamental changes since then all greatly affecting the share price. LRS needs to close above the previous support zone of 4.9/5c before there's anything to look at for the upside. Please do not chart with a holder bias and only look at what is relevant. With this said, this area should be quite strong so let's see how it plays. Announcements on other projects would help out a lot; assaying still priced in even here.