This can be a great set up - LAC….. Classic cup & handle

Tarzan

Tarzan

Take a look at LAC, its forming a classic cup and handle. Its not a buy yet as it may consolidate a bit more on the handle. A strong close above 24 is the buy point. A failure can turn into a double top but it looks strong thus far.
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sigh .... you have a lot to learn.

the uptrend started in Apr 2020 and reached a peak of 28.5
ie it has already been appreciated 14 times in just 1.5 years

cup and handle thing only works in theory.
always look at the bigger picture first.
 
Tarzan said:
Take a look at LAC, its forming a classic cup and handle. Its not a buy yet as it may consolidate a bit more on the handle. A strong close above 24 is the buy point. A failure can turn into a double top but it looks strong thus far.
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Certainly can't hurt keeping it on your watchlist. Let us know how it plays out!
 
fan27 said:
Certainly can't hurt keeping it on your watchlist. Let us know how it plays out!
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I certainly will buddy. These are all potential set ups and meant to keep an eye on. Its a lithium company so it has a very high demand product.
 
As I stated in a previous post, this is why we dont buy until the buy point is confirmed. In this case, the 23.75-24 level ( on a closing basis ).
 
Its starting to make a nice move upward and attempt to regain its possitive technical pattern. I preemtively bought some here at 22.98. I have a stop in place and I will buy more if it closes strong.
 
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