Long
LPI Beats Short Term Expectations - Touches 1.09 Resistance
LPI has beat short-term expectations driven by declining oil prices which are likely to stay low for the next few months. Within the short-term horizon LPI just touched the 1.09 resistance perfectly and should come back to 0.35 - 0.5. RSI showing sharp decline and DM+ had an unusually large upward spike, suggesting greater than average consumer faith.
Even if LPI beat earnings, the price of oil is the largest benefactor and should be taken into consideration for weak Q2 / Q3 earnings. Long-term, so long as LPI holds on to enough cash, should return to 2.05 region. This is derived from fib retracement and intrinsic value both gauging at roughly 2.05 - which are very strong indicators on a technical level.
Even if LPI beat earnings, the price of oil is the largest benefactor and should be taken into consideration for weak Q2 / Q3 earnings. Long-term, so long as LPI holds on to enough cash, should return to 2.05 region. This is derived from fib retracement and intrinsic value both gauging at roughly 2.05 - which are very strong indicators on a technical level.
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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.