TA Perspective

I  have been holding LPI for awhile not expecting this long consolidation period.  The price action of the past  couple days let me believe we might see more upside potential.  Since patience is required best to look at  the weekly chart first. We have been in a sideways price  range  (25- 32 cents) consolidation period for the last 8/9 weeks. It appears that support  is around 27 cents level with resistance sitting at 32/36/40  cents levels.



From a daily perspective a tentative  upward channel is  forming however  volume is still very low and selling pressure is still experienced. The one positive is that buying  appears to be strong as soon as  price drops below  27 cents. To support a sustained  price  up trend  a break on volume of the 32 cents resistance level  with a close above   will be welcomed imo. The alternative is to expect more  sideways price action.  GLTA