Last week LI closed with a hammer candle, which signals reversal if confirmed by the next candle. LI also closed above the resistance trendline. The candle also has more volume than the previous 4 candles, which is very bullish.
Despite the loss in the afternoon today LI closed with a strong bullish candle. The candle peaked with 26% gains. There was some selling pressure but that may be related to COVID and news related to unemployment numbers and stimulus bumps. We still closed the week with 17% gains.
Now we need to keep monitoring next week but this week's candle is what we wanted to see. I traded LI a few times this week for huge gains as you can see on the updates on my linked chart. I sold my shares one more time this morning when the price peaked and got back in at an average price of 34.87. I am also happy we closed the day (thus the week) above the stubborn $33-$34 resistance, reason why I bought back in.
Safe trades, everyone!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Despite the loss in the afternoon today LI closed with a strong bullish candle. The candle peaked with 26% gains. There was some selling pressure but that may be related to COVID and news related to unemployment numbers and stimulus bumps. We still closed the week with 17% gains.
Now we need to keep monitoring next week but this week's candle is what we wanted to see. I traded LI a few times this week for huge gains as you can see on the updates on my linked chart. I sold my shares one more time this morning when the price peaked and got back in at an average price of 34.87. I am also happy we closed the day (thus the week) above the stubborn $33-$34 resistance, reason why I bought back in.
Safe trades, everyone!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Note
LI fighting to go back into the $33-$34 range:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.