LTR 8.04% $1.21 liontown resources limited

First of all forget about EW, very complicated reading and time...

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    First of all forget about EW, very complicated reading and time consuming , the important thing you dont want to do is enter a stock on a dip, not at the top of an up wave, so use the tool ZIG ZAG and it shows you all the waves clear cut.

    Then establish your support and resistance lines, minium of 3 touches , the more the better, consider that your bank.

    Then get the rest of your tools out like i have displayed including volume.

    a) AO indicator has finally found a green bar, thats bullish

    b) MACD blue line is now basing and looks to want to curl up, thats a bit more positive

    c) RSI 14 blue line has broken out past the upper trendline resistance

    d) 5 & 9 ema looks to be turning up ( yellow arrow )

    All of a sudden things look a bit more promising for LTR compared to yesterday

    A break of 84c and it would be bullish and
    https://hotcopper.com.au/data/attachments/3402/3402864-cdd3cbec4eb77c0269ada0e38628dd70.jpg
    Swing time , good for a trade.

    A corresponding STOP LOSS, should be placed just under the nearest support line to protect capital in case of a sudden down turn .......wink.png

    Sentiment changes to a HOLD

    IMO

    Not financial advice








    Last edited by beisha: 27/07/21
 
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