Starsearcher80 wrote: As expected, the run is continuing nicely today. The stock is trading VERY strongly. Also as expected, there is some natural consolidation right at the $22.00 level, but with the way I see the trades going through, I wouldn't be at all surprised to see this minor resistance fall quite quickly and for the run to resume.
Additionally, institutional buying is the biggest buyer again today so far, which is GREAT to see, and this bodes very very well for continuation of the move up. Looks like LE is just a kid standing outside the candy store not allowed in. Newsflash LE. Having a 20min delayed quote screen does not make you a trader. Traders have systems and rules, It was easy enough to tell by your sell yesterday that you have no system in place other than guessing. You have much to learn.
Looking for a continuation of the move up.
Starsearcher80 wrote: As noted, today marks the betginning of a very nice break and run. People often get a little greedy on these moves, and sell wayyy too early. Far more often, they actually prove to be entry points especially on "Day 1" of the move, and not exit points.
So the question then is where to from here? The following comments are from a short term technical perspective.
1) There is a little clutter around $20.75 that may bring some pause to the move up. This resistance doesn't look that strong, and it is actually placed well anyway with an otherwise normal pause in the climb. I've often thought of it as climbing a mountain. Yes, you're going much higher, but taking a break is normal and healthy within the move up. In the market, these are consolidations, and they have their own personailities that are worth monitoring and understanding. Personally, I expect this consolidation to be brief. (Actually, as I write this, it looks to be breaking through.
2) The move should continue nicely up to the $22.00 level (or a touch more to $22.25) before pausing again, which also brings the stock back to the 50 day exponential moving average. This represents a further very healthy gain above the rise so far today. Again, while some resistance there, it looks to be modest at best.
3) Beyond that level, I really don't see any resistance showing up until the $26.00 level. Of course there may be some points of consolidation and retracement along the way, but the overall upside move should be established and carry the stock forward nicely.
I think this break and run overall is a classic upside move in the making. That Moody's just came out with a very nice upgrade REALLY adds a lot of support. to the stock, and this alone will bring investors back in. Excellent timing for the move up.
So enjoy everyone. Today is only day one. Imoho, this run will be substantial and last far more than just today.