Technical Trades Technical Analysis applied to Stocks and Futures.
LU descending triangle
This price action of this stock shows that a failure of support would be a distinctly bad thing for bulls.
One Response to “LU descending triangle”
[…] Previous post for LU can be found here or in the archives. Here is the chart from that time: The chart today shows that the bias in that post was right on and that LU is facing troubled waters in months ahead. Weekly money flow is now on the red side of bullish happiness and it remains a great short candidate and a weekly close under $2.10 will be like a nail in the coffin, and any bullish runs will be excellent shorting opportunities. […]
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[…] Previous post for LU can be found here or in the archives. Here is the chart from that time: The chart today shows that the bias in that post was right on and that LU is facing troubled waters in months ahead. Weekly money flow is now on the red side of bullish happiness and it remains a great short candidate and a weekly close under $2.10 will be like a nail in the coffin, and any bullish runs will be excellent shorting opportunities. […]
Technical Trades » LU - July 3rd, 2006 at 6:55 pm