Interesting that LBY managed a 15% up day, then proceeded to...

Interesting that LBY managed a 15% up day, then proceeded to consolidate above $1.40 with declining volume. I had another look at the chart, and the short-term descending parallel resistance has been broken on high(er) volume for sure. This has setup a possible flag pattern (continuation), but will need some more trading to confirm. The first line of resistance is now gone, but there is still plenty of work to do with overhead resistance - next big one is the $1.60-$1.65 line. (NB - the higher lows and higher highs, a good omen)




Holders should practice some patience here - as alluded to above, the stock has only been trading since September and is more than likely still flying under the radar to the deeper pockets who are probably to busy playing the daily rotations higher and lower on Z1P and APT.

I had a look back at the Bell Potter report put out well before this quarterly and note that LBY is beating even their optimistic forecasts by a goodly margin now. When companies start doing this, it is only a matter before the giants wake up and start buying. If you have done your own research (DYOR) and made the choice to buy into LBY, and that the company is materially undervalued, then you should be more than happy to have the ability to buy more shares at/below IPO levels while the company outstrips forecasts.