LPI
Long term
LPI displays a number of trends that follow the same angles.
The data does not include Chi-X
I do not hold LPI & don’t know anything of the fundaments & have only looked at some of the topic headings of the recent company announcements, none of which would indicate anything to move the sp.
Daily.
Currently in a 5 month trading range and is atm attempting to rise through the centre.
What normally happens during a range trading period is that accumulation happens in the lower half & profit taking/distribution/blocking happens in the top half.
I usually see resistance occurring at the centre when coming off the lows & the reverse happening when selling halts the advance at the highs or when the sp reaches one of the regular recurring trends. (up or down)
The range trading could and often is a place where large holders are exiting a stock & the subsequent break down of the range results in a fall to a distance as large as the range.
Daily.
At this stage the sp is meeting resistance in the centre & at one of the rising trend lines and that is reflected by the Stoch’s becoming overbought.
The Stoch 5 is above the over bought line & is returning to its avg. If it crosses back below the O/B line it will signal a retracement.
The stoch 14 is approaching the 0/B line but has not yet turned over so the momentum (& sp ) still has a bit to go but at this early stage of trading day the bar ?candle is suggesting otherwise.
The MACD & Histogram are both positive and trending higher.
The volume two bars ago as the sp cleared the s/t down trend line was significantly higher but has failed to follow through at the resistance.
If I had to make a prediction I would say that LPI will have a small retracement back to the 28 area.
Not knowing anything about the stock I don’t know what caused this recent rally off the lows but so far it just looks like the accumulation continuing.
If the sp continues to move up resistance will be solid around the $33 level.
A close above the mid range area with significant volume will paint a different picture & could indicate a move up to $0.32.
The range box when broken gives a price targets of 36 – 40 then 43 – 47 to the upside and if it breaks down then 20 is the target.
Weekly.
This also has been in a rarger range of 30.5 (20 – 50.5).
The latest bar is rallying off the low after testing that for the 4th time. The rising volume atm is reflecting buying after testing the lows on low volume & rising vol as the sp is rising off the low.
Given the wide weekly range over the last two years and the very large volumes selling as the sp reached & broke out of the range it looks like the big players are or have left.
The weekly indicators are largely trending down and the shorter term daily ones are overbought it seems likely that the sideways trend will continue.
Looks like a good stock to trade but cant see any reason to buy & hold at this time.
All just my opinion of course.
