LAC & GM Team Up for Thacker Pass!
Updated
Here I have 
LAC on the Daily Chart!
GM plans to contribute $625 Million and seeks to claim 38% of the Joint Venture!
This remarkable announcement this week seen the Price ofLAC hit 4-Month Highs after Breaking Above the Falling Resistance that was keeping it down.
The rally seems to be tamed by the Resistance Level and Low that was created in February but is now testing the Break of Falling Resistance for potential Support to keep pushing Price Higher!
If Price can Push through this area, we could see Price make a move for the Gap @ ( 4.9 - 6.37 ) then find Strong Resistane @ ( 6.83 - 7.65 )
Indicators:
- Price will need to test the 200 EMA in $4 range
- RSI is Above 50 (Bullish)
- Strong Bullish Volume with Breaking Candle suggests Valid Break
- BBTrend Printing Green Bars
LAC on the Daily Chart!GM plans to contribute $625 Million and seeks to claim 38% of the Joint Venture!This remarkable announcement this week seen the Price of
LAC hit 4-Month Highs after Breaking Above the Falling Resistance that was keeping it down.The rally seems to be tamed by the Resistance Level and Low that was created in February but is now testing the Break of Falling Resistance for potential Support to keep pushing Price Higher!
If Price can Push through this area, we could see Price make a move for the Gap @ ( 4.9 - 6.37 ) then find Strong Resistane @ ( 6.83 - 7.65 )
Indicators:
- Price will need to test the 200 EMA in $4 range
- RSI is Above 50 (Bullish)
- Strong Bullish Volume with Breaking Candle suggests Valid Break
- BBTrend Printing Green Bars
Trade active
Price has come down tested the Falling Resistance @ 3.10.
Added Shares!!
Trade active
Price has made a 50% Retracement of the new 6-Month High it reached yesterday of $5.20!
If Price continues to hold at this area of Support once used back in January & February.
Added Shares @ $4.10!
Note
Price has visited the Volume Imbalance in the $3.70 area for a second time following the Lower Than Expected Earnings report and is currently finding Support, Pushing Higher!
This Volume Imbalance hovers just above the 50% Retracement level @ $3.62 which we find lands right near the Previous High on Oct. 17th @ $3.65.
Added Shares!
Note
Price has been outlining a Wedge Pattern since its decent from $5.20!
The recent touch of $3.62 was not only the 3rd Test of the Falling Support of the Wedge pattern but also a 50% Fibonacci Retracement from the Low of $2.03 to the High of $5.20 and Test of a Previous High!
Added Shares!
Note
Price is now testing the Break of Falling Resistance of the Wedge it has been forming. Also the 38.2% Fibonacci Level from the High of $5.20 and finding support at the Falling Support and 50% Fibonacci Level!
Added Shares
Note
Price has made a 61.8% Fibonacci Retracement from the Highs @ $5.20 and tested a Previous High along with the 3rd Test of Falling Support. We could see
LAC make a Bullish Break to this Falling Wedge!!
Added Shares
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
Telegram - t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.