Planet Wealth – Australian Stock Market Education

We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth.

March 2, 2009

Short Term Trade – LEI

By Planet Wealth

At the beginning of October Last year, and large Head and Shoulder Pattern (H&S) was Identified and confirmed on the weekly chart of LEI. This set the stock up for a longer term view of bearish, with a likely target of $12.00.

This week, LEI has hit the top of a downtrend channel and weekly resistance after a healthy counter trend. A valid Bearish Down Day breaking past the counter trend, with higher volume and supporting indicators could be an opportunity for a fantastic small term trade. Keep an eye on this one.

Topics: Stock Charts, Technical Analysis, candlesticks, trade shares, trading tips | No Comments »

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