LOFCLOFC Daily
This chart and analysis are not financial advice. Do your own research before trading or investing.
LOFC.N0000 trade ideas
LOFC.N0000 : LOLC FINANCE PLC - Breaking of Cup & Handle PatternFundamentals
* LOFC Earnings & Net Assets were dropped due to the acquisition of Commercial Leasing and LOLC Development Finance under non-bank financial sector reforms in Sri Lanka. (Due to an accounting treatment - Merger Reserve of negative LKR 262.9 billion, not an operational loss)
* With the economic recovery of Sri Lanka LOFC had reported 2 consecutive Qs of solid earnings growth
* Forward EPS 1.24, FWD PE 5
* Due to negative merger reserve company will enjoy tax advantages
Technical Analysis (Chart Patterns)
* On 1st March 2024 LOFC.N0000 broke the descending wedge pattern. Pattern Target LKR 7.20.
* On 19th April 2024 LOFC.N0000 broke the Cup & Handle formation. Pattern Target LKR 8.30.
* For confirmation 19th April 2024 candle should close above LKR 6.20.
LOFC bounced from strong support areaNext resistance Area around 7
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LOFC.N - LOLC FINANCE PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:LOFC.N0000
LOFC
After making a HL on 7 th June the shape price took a sharp upward movement and crated a HH which also cause to produce some profit booking opportunities.
On the last trading day the share price tested the support at 5.30 - 5.60 zone but manage to close above it.
The descending trendline is in a confluence in this support zone.
RSI took a cooldown while MACD is also slightly curved down.
LOFC.N - LOLC FINANCE PLCCSELK:LOFC.N0000
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
LOFC
After a continuous decline from its support zone share price to a turnaround. The volume traded in last 2 market days were above the average.
Share price touched the resistance zone 5.40-5.60 and closed below Daily MA 30.
Resistance zone 5.40-5.60 , DMA 50 and trend resistance line seems to be getting in to a confluence.
LOFCI dont like what i see, a Massive descending triangle. so far best entry will be at 5.5 with a strict stoploss right below it. and second best entry will be ranging trendline support whcih gives a support at 5.0.
LOFC | TradeTrade Book: CT-LI/CT-LC
Trade No: 09/180
Entry Price: 6.30
Stop-Loss: 6.20
Reason for Trade: If the horizontal price channel at 6.70 is broken, the stock may potentially reach the range of 7.40 to 7.60. This could test the 200 day moving average, as well as the Fibonacci retracement levels of 0.618 and 0.65.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
LOFC | Making Inverted H&S ?The stock has broken above a falling wedge pattern with considerable volume and has created a higher high. After retracing towards the 10-day moving average for support, the stock is currently consolidating between the 10-day and 30-day moving averages, while creating a higher low. If the bulls manage to break above the neckline resistance around the 6.8 to 7.0 range, the stock may create an inverted head and shoulders pattern.
To manage risk, traders should have their stop-loss below 6.10.
LOFC While moving below all SMA, LOFC seems having good volumes coming in at current levels.
trendline supports can be seen in 5.3 and 5.0 respectively. However given the nature of the counter, below 5.0 should be the
immediate stoploss for traders who takes positions at above levels.
RSI shows about to breakout its trendline
PS - go through the chart thoroughly, i have added much information in it.
