LAC possible sequence ending? turnaround soon? Target 40+ usd?Following LAC for quiet a few years now; following its 3 count overall moves carefully, and waiting for a pullback. The Multi-year trend moving in a so called ABC structures, likely still forming an overall huge diagonal. It was roundabout at the 0.236 fib retracement for a possible wave 4, when fundamentals has been changed for LAC, primarly the company split and ongoing legal actions which made me wait for further draps, although a 0.236 retracement would have been acceptable.
Now, for the white scenario, it is possible we are ending the wave 4 pullback also as a big abc. Being an overall diagonal forming, for a wave 4 the 0.618 is also common, being said, it has almost reached it perfectly, so the risk-reward ratio is getting great for the very long term, to finish off wave 5 also as an abc to the upside, target would be primarly 40-55 usd, in a more bullish interpretation ~69 USD, LIKELY would take also several year (definetely not a few). Keep in mind with our current knowledge, the new mine's production likely ramping up in '26-'27.
fib support down at ~2.43, where the second small fib box upper support ~2.34 is an acceptable one IF there is no sustained, comfortable price actio break below.
For a bit more "bearish" scenario, we already finished of an "A" wave (orange route), either as a smaller diagonal, or I could make a case for a WXY as well, does not really matter. We are working now on orange circle B, which should be also an abc structure, in which we finished, or near to finish the (A) wave, and a correction should be imminent with a minimal upside target of 6.27 currently, but be aware it is a moving target, as price action evolves we might need to adjus that red resistance box. Standard support box is added for the orange route as well 0.9 usd being the last reliable support for a later evolving C wave.
On the 1h, 4h RSI and MACD has already built a nice divergence, on the daily it has started to built, early signs are there but not fully present. Weekly is coming up, towards ground levels. So far all the meaningful MA'S on the daily (9/21/50/52/180/200) was rejecting price action previously, currently trying to break above and close above the 9day SMA.
We do have a small head and shoulders pattern as well with a downtarget of ~2.29 which not neccessarly needs to be reached. This is the multi-year big picture, from this point forward switching from a weekly timeframe, to lower ones.
