LTIM: Sideways Consolidation Continues After Strong 2021 Rally
LTIM has been trading in a well-defined range since its 2021 bull run, with strong support and resistance levels dictating its movement, between 4000 and 7000.
Key points:
1. The stock faces heavy resistance at 6800, as the 23.6% retracement level acts as a strong barrier.
2. Price consistently finds support at the 50% retracement level and has bounced back from this level multiple times.
3. The stock is currently near the 50% retracement level and trading below the 180-day exponential moving average, making it oversold.
Key points:
1. The stock faces heavy resistance at 6800, as the 23.6% retracement level acts as a strong barrier.
2. Price consistently finds support at the 50% retracement level and has bounced back from this level multiple times.
3. The stock is currently near the 50% retracement level and trading below the 180-day exponential moving average, making it oversold.
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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.