$LW #breakout on weekly #chart
LW has bottomed around MAY-JUN'19 and since it has traded upwards forming an ascending triangle, with resistance line around 83.86Last week has broken AND CLOSE above that level on the back of better than expected earnings
All this would have been great if the MACD and RSI were not that high into overbought area
Ideally look for a retrace and possible retest of the former resistance area in order to participate
Measured target of the breakout move is around 108.89
Good luck,
TA
Trade closed: stop reached
Stoped out on the breach of the 80 levelTA
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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.