What's next for LTC? Pennat formation suggests retrace

If we take a wider view and analyze the daily chart, we quickly are able to identify the formation of a pennant. This usually suggests continuation of current trend. If it breaks down through the triangle, the target should be around ~40 (length of the flag pole)

If it breaks the other way, then target should be around ~82-84 (length of wave A). Even if it retraces back to ~40, the target for the bigger wave B should be the same around ~82-84.

Yorum:

Broke through the triangle, should take us down once more now

Yorum:

first support broken

Yorum:

second support broken, updated chart

Yorum:

Point B at 82.70 not 83.75