LBL - Technical Analysis. If this then thatLBL has capitulated out of the ascending triangle it was forming on the 382 fib.
Has found support on monthly OB and 618 level, and forming daily/hourly bull div on this level. Likely false breakout to bottom. Weekly RSI moved into oversold. Monthly RSI below 50. Expecting recovery.
Entry here possible with very tight stop for LTF trade, probably back to retest $0.75 - $0.81 before a move either way. personally ignoring for me, sticking to HTF.
If it reclaims 0.382 within pattern, look for Long entry for strong move to the upside. If retest occurs, re-asses at expected bottom - $0.65 to $0.55
Long targets - $1.03 / $1.27 / $1.5
LBL trade ideas
$LBL - Buy on news?As per my theme recently looking for stocks with strong charts. I'd say this is group 1. And a summary of recent results.
Revenues from ordinary activities $22,667,200 Up 44.9% from $15,648,146
Net Profit / (Loss) from Ordinary Operating
Activities after Tax Attributable to Members $2,809,404 Up 190.3% from $967,749
Net Profit / (Loss) Attributable to Members $2,809,404 Up 190.3% from $967,749
Earnings per share (cents) from profit attributable to
members
2.972c Up 185.8% from 1.040c
$LBL ASX - LASERBOND LIMITEDLaserbond Limited (LaserBond) specializes in developing technologies and implementing surface engineered solutions to provide service life for equipment used in a range of industries, including mining, drilling, minerals processing, manufacturing, construction, transport and power generation. The Company manufactures, repairs and reclaims wearing parts and assemblies incorporating surface engineering technologies. The Company operates in segments, which include NSW-Services Division and SA Services & Products Divisions. The Company offers drilling tools, which include hammer details and drill bits. The Company offers various services, which include laser cladding, thermal spary, welding, machining, heat treatment, metallurgy lab, surface coating and remanufacturing. LaserBond cladding and thermal spraying technologies, which are developed by the Company form core of its business. Its intellectual property is deployed within repair and remanufacture of customer equipment.
Its appeared on my screener for the last couple of days so I have been keeping an eye on it. Has some good volume coming through with RSI and ADX running the right way. Not sure it is liquid enough for me to trade so I dont have a position in it, but its in an interesting space leveraging a growth industry. Could be a grower.