I have been holding LPI for awhile not expecting this long consolidation period. The price action of the past couple days let me believe we might see more upside potential. Since patience is required best to look at the weekly chart first. We have been in a sideways price range (25- 32 cents) consolidation period for the last 8/9 weeks. It appears that support is around 27 cents level with resistance sitting at 32/36/40 cents levels.
From a daily perspective a tentative upward channel is forming however volume is still very low and selling pressure is still experienced. The one positive is that buying appears to be strong as soon as price drops below 27 cents. To support a sustained price up trend a break on volume of the 32 cents resistance level with a close above will be welcomed imo. The alternative is to expect more sideways price action. GLTA
LPI Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
