$LPI long (B wave potential here)LPI has experienced an impulsive 25% drop after Chile announces that it will nationalise its country's lithium supply. Private companies will be forced to work with the state to develop the local industry. I have not looked in depth into Chile's lithium industry and the potential long term consequences but the market demonstrated how it felt about the announcement. SQM fell 17% and Albemarle fell 9% (both in the top 5 largest lithium companies in the world). It is no surprise th
From a charting perspective, this looks like a clear running flat but could also become an expanding flat down the track. The impulsive C wave down could also be interpreted as the end of a new A- wave. This could mean that there B wave potential here for a swing.
LPI
LPI: WATCH FOR BIG WEDGE BREAK OUTLPI (Laredo Petroleum Inc), an independent energy company (oil and gas).
Huge consolidation within a big wedge . Weekly chart with price above Ichimoku cloud , which means the trend is positive. A break of 90 could be the signal of a strong uptrend , with a 1st resistance at 100.
The move could target anywhere between 146 and 208.
Analysts target: 124
Trade safe.
Will Laredo Petroleum correct its rally soon?Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on May 27, 2022 with a closing price of 83.65.
If this instance is successful, that means the stock should decline to at least 83.11 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 5.226% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 8.355% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 15.97% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 40 trading bars after the signal. A 0.5% decline must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 7 trading bars; half occur within 18 trading bars, and one-quarter require at least 34 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
LPI - Good Buying Opportunity!LPI has pulled back towards it trendline support and has bounced off once. I believe it is expected to consolidate for a bit and continue its move to the upside. I am bullish LPI with my first target of $0.350 (potential 28% gain). Keeping in consideration the Bullish trend in Lithium, we could move much higher. My second target is $0.445 (potential 55% gain).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
LPILaredo Petroleum Inc (NYSE:LPI) Setting up a possible resistance breakout trade. Go long on the break of 68.31
target predicting with butterfly patternButterfly harmonic pattern:
AB=0.78 XA
BC=0.88 AB
CD=1.6 BC=1.27 XA=$66 *more likely*
or
CD=2.24 BC=$150
LPI - Good Buying Opportunity?After making a Higher High and then pulling back, LPI seems to be right on support at the moment. I am expecting a break of the trendline with High Volume which shall give me confidence to buy, targeting the previous highs and my stop will be below the previous swing lows!!
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
$LPI on the way up!Institutions dumped this hedged Texas producer earlier in the year but will be back this winter.
LPI - LONG UPDATEWow. Bout to break long standing resistance trend line since 2013 !! 50% retrace target just over 9.00
LPI - LONG SETUPBEEN SELLING OFF SINCE '16 ALREADY POPPED PRETTY GOOD BUT IT'S SHOWING A BREAKOUT ON THE DAILY...BUT IT'S SHOWING BULL DIVERGENCE ON THE MONTHLY TIME FRAME !
LPI Bullish Bat Pattern
As a beginner trader (20 days old), I am trying to identify one pattern every day for a year. Hope all can provide me constructive feedback to hone my analysis skills! This is a training for me.
Bullish pattern spotted.
LPI will drop in the twelve dollars Their is a very strong resistance level and it seems like LPI can't get passed it. I mean the stock tried several times and it didn't work. Now, it's losing momentum and its going to go back in the area of twelve dollars, where i drew the up channel's trendline. What do you guys think ?
Buying at twelve dollars may be a good thing.
Laredo Petroleum Holdings Inc. (LPI) Bullish TrendWith the Stochastic approaching the oversold levels, and the price reaching an overlap with the 200 day moving average, I am bullish on LPI. There is a short-term downward channel within a long-term upward channel, and this touching of the 200 day MA brings about a bullish upward trend. I believe that the price will approach the 27's and then will make a strong move up from there.
