LOGI ($LOGI) cup and handleIt looks like LOGI is forming a cup with handle that started in May, with a resistance at the lower $41 level. The stock price showed a small decrease during the last few weeks (handle), the volume dried up due to the lack of interest from the holders to sell it and the price at the close didn't show significant fluctuations.
LOGI has been showing an unusual share volume today, that, if continues, could indicate that the stock price will advance in its bullish trend that started by the beginning of the year.
LTEC trade ideas
Technology stocks for 2018 #11 (LOGI)Sector: Technology
Industry: Computer peripheral equipment
Above of 2008 highs
Now look 2018 price (red arrow) the breakout, the pullback and a consolidation price in progress above 40
This is a continuation pattern in a trend following mode, price is making new highs, breaking resistance lines
I see it like that weekly candlesticks, 10 years view
this ideas take weeks for mature and if volatility appears combined with a bad timing entry,
the trader can stay in red for some weeks and here when position sizing is important and other aspect like stops loss.
I share the ideas always from the weekly chart
The trader that like the idea and follow it, from your daily chart, with your own set up, handle your strategy, system and your finance.
2008 to 2018
Logitech- Buying Long Into Start Of New UptrendFriends
We've had a downtrend stall, a bullish engulf, confirm bullish Harami and gap up has shown the bulls intension to being this stock back up to higher highs.
It made a lot of sense to buy yesterday, as the breakout was clearly there, and we was able to get a good price for sure.
My personal Pre market predicted opening price is 13.70's. And with this in mind, we are hoping to see bulls keep price about the 200EMA.
We had a previous scenario of gapping up from a reversal, and the up move was quick, and profitable. Pre market behaviour, the gap ups and buying activity, I think the scenario 1, which I have labelled on the chart, could be a realistic scenario for this time around also. But obviously I haven't bought it under that assumption. But the target is not unrealistic for potential upside targets but we shall see.
Thanks,
Tom