LMND broke dramatically into overbought territory on the weekly chart earlier this year. It's taken understandable time to digest those gains and now looks like it could be building steam to revisit prices reached during that breakout.The shorter term 4H chart, more suitable for entry and exit signals, illustrates a recent break above a cup and handle formation. That little pump appears to be consolidating rapidly.
Should the shorter term move find traction, the the weekly chart could provide a reasonable target as a trading range is formed for a larger move in the long run. A swing trade looks attractive at this point with potential 50% upside.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.