Tuesday, December 6, 2011

LC's Harmonic Bearish Bat Pattern

LC is now at the PRZ (potential reversal zone) of the Bearish Bat Pattern at 0.886 of XA. Will it react to the PRZ? The only bearish signal I see is that RSI is above 70... 78.80 to be exact and the Bearish Evening Star Candlestick... Let's see if today will be a red candlestick. That will confirm the reversal. Anyway, LC needs a break and have a healthy correction.

Technical Indicators are telling me that the uptrend and momentum is still strong. The good news is if LC breaks out totally or move up from the PRZ of the Bat, then it might go to the extended pattern which is the Bearish Crab. Measurement is 1.618 of XA. Lagpas Dos! =)

Btw, I sold half of my LC shares a while ago... might add up sa correction phase. my next profit taking is at the CRAB!





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