LG.v Technicals Looking Good
LG has some good looking technicals at the moment.
Falling wedge forming nice.
Also could be a pennant with the older trendlines.
Flirting with the 100MA and this has shown great support for a swing trade in the past.
Stochastic is pretty low, but could stay down.
RSI is not quite oversold but showing resistance to going down any further.
Money flow has stayed somewhat strong.
MACD is curling up at the moment.
Key levels at .59 and .92. These will act as support and resistance.
I will be taking a position from .66 and building my position all the way down to .60 if the wedge breakout does not occur.
Planning to sell around the .87-.89 level. Also opportunity for a breakout play down the road if we are see great trend support as it nears the .92 level.
Falling wedge forming nice.
Also could be a pennant with the older trendlines.
Flirting with the 100MA and this has shown great support for a swing trade in the past.
Stochastic is pretty low, but could stay down.
RSI is not quite oversold but showing resistance to going down any further.
Money flow has stayed somewhat strong.
MACD is curling up at the moment.
Key levels at .59 and .92. These will act as support and resistance.
I will be taking a position from .66 and building my position all the way down to .60 if the wedge breakout does not occur.
Planning to sell around the .87-.89 level. Also opportunity for a breakout play down the road if we are see great trend support as it nears the .92 level.
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