LILA nearby breakout area, major resistance

18 giu 2017

LILA is another stock with positions recently added on to by investment group Dodge & Cox. The stock has been trending down since it's initial high, and prices are once again finding an area where they are to either continue on higher, or go down further. The stock has had some slight increase in volume recently, but prices are still below the major resistance area. The price is also nearby to the 200 MA, so there is the chance for them to pass through and use it as a support area to continue further up. This is a descending triangle, so the energy of the prices should react positively to the geometry of what's going on. A trade can be taken with a 2:1 R/R where the prices can move a full 2R from the last decent green bar before encountering some more resistance at the psychological $22.00 level where prices previously consolidated.