ðĨ LUNC Consolidation Before Break Out: Patience Pays!
A while ago I made an analysis on LUNC and the fat that I expected a bllish move towards the 29,000 resistance target. After that, I expected a bearish move, which has now occured.
My bearish target of 20,000 still stands. However, I expected LUNC to have touched it already by now. The fact that LUNC is still trading around 24,000 is rather bullish in my view.
Therefore, I'm going to wait and see how the triangle / flag patten will play out. A break out from either side will likely be the start of a new short-term trend.
Bearish target: 20,000
Bullish target: 29,000
Be patient and let the trade come to you.
My bearish target of 20,000 still stands. However, I expected LUNC to have touched it already by now. The fact that LUNC is still trading around 24,000 is rather bullish in my view.
Therefore, I'm going to wait and see how the triangle / flag patten will play out. A break out from either side will likely be the start of a new short-term trend.
Bearish target: 20,000
Bullish target: 29,000
Be patient and let the trade come to you.
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