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Strategies & Market Trends : LPL -- leader in World's TV Industry
LPL 5.010+3.9%Oct 31 9:30 AM EDT
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To: IntoOLEDs who wrote (72)6/24/2021 10:03:48 AM
From: chessboard_andy1 Recommendation

Recommended By
MickMook

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I do still have a core and trading positions.

Briefly, my view is that this pause and sideways move has a couple of principal causes:
Chip shortage concerns
Lack of clarity on CapEx for next year
Plus it takes time to digest an oversized move like the oversized 60% jump from December-February. This is a large industrial, so that was a pretty huge move during a time that the s&p was up about 15%. The end point of that move was in the $11.20 neighborhood.

Clear now that the ~$11.20 is a sturdy point of resistance. The ~$9.60 support to ~$11.20 range may last for a while longer, but I am positioned for a break out to the upside. I think the floor is better established than the ceiling for the reasons in your thesis.

Good luck,
Andy
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