LTR 0.00% 83.5¢ liontown resources limited

On the daily chart the earlier mentioned pullback might just...

  1. 6,271 Posts.
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    On the daily chart the earlier mentioned pullback might just have started now as the more aggressive setting of the Stochastic indicator suggests. The question is how far the pullback my go? However IMO it is going to be a smallish wave 4 down move. The upper channel line of the base channel (black line) may be tested as an extreme. The low of wave 4 down, could be seen as a top-up opportunity as shown in the chart because it is followed by wave 5 up for iii up of 1 up.

    Depending on the wave 4 low wave 5 up will develop and there are 3 black dashed target lines indicated to give an idea, based on Elliot Wave Theory, but they need updating when the wave 4 low is established. Naturally the important bit is to get through and to the resistance area indicated in light orange 10 - 12.5c.

    As long as LTR can stay within the accelerated channel I think holders and those having topped up would be very happy!
    https://hotcopper.com.au/data/attachments/2104/2104231-bb0e4dd8633eb3d5d59538f2772f878f.jpg

 
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