Silicon Investor (SI) -- The First Internet Community

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 -- Ignore unavailable to you. Want to Upgrade?

To: chessboard_andy who wrote (7)	12/8/2020 2:53:26 PM
From: chessboard_andy	3 Recommendations Recommended By JimKelly MickMook richthedude747 Read Replies (1) \| Respond to of 76

Holding up pretty well for two days after the breakout now. I just spent a bit of time looking at retracement levels and thought I would share. There was a reasonable trough from 10/30 through 11/4. The base seems to be right around open on 11/2 with LPL @$6.22. The breakout day closed right near the high @7.72. That gives a very easy math move of $1.50 from trough to short-term peak. Using those levels, the fibonacci retracements would be: 35.4 cents (23.6%) LPL@~$7.37 57.3 cents (38.2%) LPL@~$7.14 (very close to my previously stated view of support @ $7.16) 92.7 cents (61.8%) LPL@~$6.79 Very good news that we are bouncing right off of that first retracement level. Obviously, other people/algorithms draw their peaks and troughs differently so staying in range of that first number may be sufficient to move back up. If not, then the $7.14-$7.16 level should show very strong support and the ability back up with little resistance ahead. FWIW, I will exit my trading positions if we break below $7.14, but the charts look constructive that we may not test that level. Others might look at the move starting on 11/12. That day had decent downward volume and closed near the lows. The close there was $6.54 indicating a move of $1.18 (to $7.72). Retracements would be $7.44, $7.27 and $6.99. That 11/12 date was more of a one day dip, whereas 11/2 looks more like a trough, so I went with the former. That alternate view does give one additional support level at $7.27 to watch. Please note that I'm no technical guru, and I'm not trying to encourage others to act. I take comfort in my numbers for some trading positions and longer term positions of my own.

To: chessboard_andy who wrote (7)	12/17/2020 11:59:09 AM
From: chessboard_andy	Read Replies (1) \| Respond to of 76

Lovely run. I just went back without sneaking a peak at this original post to see where I find resistance. Fat crayon lines were centered on $8.47 and $9.92. That matches pretty much perfectly with what I posted before, so that seems good. 12/15 was a great open with strong volume on the gap up. (Opening 10 minutes had 320K shares $8.20 open, $8.08 Low, $8.10 close). The remainder of 12/15 & 12/16 did a very good job of setting a support level right around that $8.20 as I see it. The volume is much more tepid, but the gap up today to that next resistance level seems still constructive. I made a smallish wager that we will get through that next resistance and head towards $9.90-10. Nothing huge, and I'm definitely not encouraging others to follow me. To reiterate, this is all amateur chart reading, and I'm not advocating anyone acting on it. Rather just looking for other's thoughts.