LNC has one of the best charts in the market atm which should not be surprising considering the extraordinarily number of initiatives about to come off.
The price made a higher low yesterday compared to Monday which was an amazing result, and this week the lowest price was higher than the low of 31/01/2011, which is very bullish.
Today the share has made a higher low and higher high compared to yesterdays price, and the share is on tract to have its highest volume in five days, again very bullish.
If it wasn't for the unfortunate situation in Japan LNC would be above $3 imo.
Ive been buying today and firmly believe LNC will out perform in the very short term, medium and longer terms.
With Saudi Arabia moving into Bahrain which is ruled by a minority Sunni (Same as Saudi) monarch wheres its population is Shiites (same as Iran) and both hating each other, I fully expect some very real tension to come into the energy market in the short to medium term. This will help LNC in a very material way as governments look for seriously good alternative energy options.
LNC Price at posting:
$2.68 Sentiment: Buy Disclosure: Held
