Figure 1: LC Price chart
Sorry guys. Don't know why my indicator can't be displayed. Anyway, its value is 24 and is nearing the oversold area. I am expecting LC to make a last push upward before a major correction possible towards P1.80 or to the upper line of the channel. Right now I am more cautious with this stock because of the massive volume spike that occurred near its peak. The last gap that occurred is also a possible exhaustion gap. This is an indication of an upcoming end of current trend. In case the major correction will start the downside target will be the breakaway gap which most of the time will be revisited and get filled.
Figure 2: LC weekly chart
Looking at its weekly chart, LC is already very overbought as indicated by both of my indicators. It is also very much overextended which increases the likelihood for this stock to correct (snap back effect) in order to normalize its trend.
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