Yello Paradisers, LPT Analysis: Strong Bounce and Bullish Breakout
💎 LPT experienced a strong rejection after touching the support trendline of its Bullish Pennant pattern, only to bounce back vigorously and break out of the pattern.
💎 Notably, this support trendline also aligns with the golden Fibonacci level of 0.618, which likely contributed to the robust bounce and breakout, facilitated by high trading volume.
💎 LPT is expected to retest the now-support trendline, previously resistance, of the Bullish Pennant before continuing its upward trajectory to set new highs.
💎 Invalidation Scenario: This bullish outlook would be nullified if LPT experiences a false breakout, breaking below the support trendline of the Bullish Pennant and closing beneath it.
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