Trade Plan: LCB forming a Darvas Box

Possible ways to buy some more LCB….

Using the daily chart, today formed a bullish engulfing candlestick. LCB is still in a range with decreased volume, which is good. Volatility indicator also signaled a buy since it made a new high close. I would like to see volume of at least 70m shares traded on the remaining days of the week  but the increased volume today is already convincing.

B: When it breaks the darvas box with resistance at 1.98 to 2.

Highest CLOSE of all time at 1.92!

5 minute chart is showing a double bottom.

I may consider getting some at 1.92 -1.93… it is .06-.05 (2.6%-3.1%) away from 1.98 resistance. plus using the volatility buy signal.

Tomorrow, I’ll be watching the tape for confirmation and will let Ms. Market confirm my opinion. :) In case LCB gaps up at the open, i’ll just wait it out and watch the intraday chart.


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