March 24, 2009
Up Trend Channel LGL
By Planet Wealth
There are few stocks out there at the moment that are showing clear signs of buyers being in control. But with gold on the rise in these tough times, there are a few gold stocks with bullish trends.
LGL has been in an up trend channel for the last 5 months. The weekly chart shows the stock respecting and bouncing off the 2 channels lines which have made major Higher Peaks (HP) and Higher Troughs (HT) along the way. This is a clear sign buyers are in control. Though there is a significant resistance at $3.65 to be cautious of, this stock will remain bullish until the sellers take control with major Lower Peaks and Lower troughs on the weekly chart.
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