Textbook Cup n Handle
Updated
Bucking the trend once more. After an 82% correction from its May 12 high of $.90 LRC spent 41 days to reach its June 22 low of .17. This is where it was at the beginning of the new year in January. Nice base encompassing 101days to form the cup, heavy volume on the pumps, this should have some great upwards momentum. Enter at .54 Stop at .44 TP1 @.89, TP2 @1.06, TP3 @1.35. I will add trade setup in an update.
Note
Trade setup for LRCNote
Wow! Did not expect LRC to pump this much in one move! But if it pumps this hard it usually pulls back. That's where Fibonacci levels help guide us. I sold half @.71 and gonna re-enter @ .64. Happy trading! :)
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.