LBY has shown strong bullish price action by breaking the descending wedge to the upside with very high volume indicating a potential change in the downward trend. It seems that price wants to move higher now. We may be facing initial resistance now but I will be monitoring price action closely and will buy once it shows bullish price action. There is bullish divergence on the MACD which validates the bullish view. I will be targeting the recent Resistance level which is also the 23.6 Fibonacci level which is at $0.845 ( a potential 55% gain on the trade).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.