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Strategies & Market Trends : LPL -- leader in World's TV Industry

LPL 4.995

-0.3%

Nov 3 3:59 PM EST

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JimKelly

richthedude747

To: Cooters who wrote (6)	12/4/2020 4:22:58 PM
From: chessboard_andy	2 Recommendations Read Replies (2) of 76

My view is that the key level for the breakout was resistance at ~$7.16. The stock opened above that level yesterday after several recent attempts, and it managed to stay over that line all day yesterday. Today's movement is strong confirmation. You could actually see the confirmation begin last night looking at the Korean Ticker. Point being.. I am pegging $7.16 as the new support. Blue skies ahead looking at the 1 year chart, but you can find resistance by zooming between the 2 year and 5 year. I see minor resistance at $7.72 (right where we are as I type this), then $8.45 and $9.90. Of course there will be some Fibonacci retracements along the way. I'm hoping today's strong move will signal some algorithms to open new positions next week, and we will get a nice run before the first retracement. Single malt tonight. Andy

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