RE:Picking up a nice trend!Like I said before ….I’m not much into technical analysis but Like to use some basic parameters. My favorites for LI are Bollinger bands (20 days), exponential moving average EMA (20) and RSI (Relative Strength Index). LI religiously trades within 20 days Bollinger bands. On July 2nd LI started to trade outside the band and result was a decisive correction to EMA – so predictable….lol (I’m such a smart as$ after the fact). As of this Friday the stock retreaded to a comfortable 50 RSI, so what all this mambo jumbo means? Well, IMHO….this stock has a good potential to move up because it has strength – RSI only at 50 and is in the middle of its normal trend – room to move up (or down ..hope NOT).
Similar situation occurred at the end of November 2020 and within a month LI started a nice climb to $4/share; as someone suggested $6 is not unreasonable now.
G37