Yesterday the sp closed below the Demand zone. At a glance, it makes the trading range look precarious. Is it going to break down for good or revive again like early this month? Judging from the ultra high volume with the relatively narrow spread of the candle yesterday, which indicates a strong buying pressure, I would say the sp is going to rebound and the trading range is revived.
And LTR ended up in green! What is going on?
I have said that with such a massive Buying Climax on 16 May, it is very likely that an Upthrust will occur. In other words, the P&D is not over yet. And because I believe that, I naturally read LTR's close in green as a sign that an apparent strength is being built at LTR with the intention to attract more buyers. Of course, I just make a guess here. But this guess is actually more consistent with the relatively poor condition LTR is in than the guess of "mysterious accumulator" is buying.
And what if my guess turns out to be true? If my guess turns out to be true, that LTR is being prepared for having an Upthrust, then very likely PLS' trading range will survive, and PLS sp will also go up when LTR sp is being marked up for an Upthrust, just like last month.
However, with the war going on, and the US economic uncertainty which feeds the global economic uncertainty, there is no guarantee that technical factor alone can prevail.
PLS Price at posting:
$1.23 Sentiment: None Disclosure: Held
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