LPL -- leader in World's TV Industry Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

LPL 5.025

+3.9%

3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: chessboard_andy	2/10/2021 2:53:18 AM
	Read Replies (2) of 76

Support and resistance. . . Trading since February 1 has been a very nice, slow upward march with very nice volume. We are now approaching another minor resistance level which I am pegging at ~$10.44. The Korean Issue is up a bit overnight, so we may move back towards blue sky territory tomorrow morning. ~$9.65 offers healthy back-up support, but we may not test it during this cycle. I just spent some time looking at 2018 charts, and from the end of April 2018 through about mid June 2018 we found a temporary support level around $10.40-$10.60. LG Display broke below that support around June 15, 2018, and that level became resistance. That resistance level was tested and confirmed the week of August 20, 2018. LGD marched lower from there. That resistance was not tested again until a couple of weeks ago. We did trade above $10.45 for a few days as earnings approached. We closed precisely at that level on the day prior to the earnings release, and the pullback after earnings made sense to me. I still see $10.45-10.50 as an important resistance hurdle that we seem poised to cross over. We bounced off of $10.44 Tuesday morning. I am hopeful that we open above $10.45 Wednesday morning and hold that number for the close. The very good news is that there really isn't much resistance at all between ~$10.50 and ~$12.94. There may be a tiny bit of short term resistance at the $10.86 pre-earnings high, but we only traded there for a blip, and it should not be a big deal. I'm hopeful for a candlestick up day after another day or two above that $10.45 resistance and defining it as the new support. Andy

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next