$LPT Is consolidating into a bullish pennant, a continuation pattern. A breakout above $5.70 could target $6.20–$6.50.
LPT surged 48% from $4.05 to $6.00, reclaiming the prior open at $4.14, and is now resting above the optimal trade entry (OTE) pocket. Bulls need to hold $5.35 to push toward $6.70–$7.20. A break below could see a slide to $5.00.
Moving Averages:
Short-Term (50-Day SMA): Rising on the 4-hour chart, suggesting a strong short-term bullish trend. Expected to reach $4.61 by May 3, 2025.
Long-Term (200-Day SMA): Falling, indicating long-term weakness. Projected to increase to $10.00 by May 3, 2025, which seems inconsistent with current bearish signals and may reflect algorithmic optimism.
Daily Chart: LPT is above the 10, 20, and 50-day exponential moving averages (EMAs) but below the 100-day ($7.18) and 200-day EMAs, signaling short-term strength but long-term bearishness.
Relative Strength Index (RSI):
4-Hour RSI: Jumped from 30 to 65, indicating growing momentum but not yet overbought.
Daily RSI: At 32.70, suggesting a neutral state, close to oversold (below 30).
Weekly RSI: At 37.97, also neutral, indicating no extreme conditions.
14-Day RSI: At 72.38, signaling overbought conditions, which could imply a near-term price correction.
Support and Resistance Levels:
Support: Key levels at $4.04 (bottom support), $5.00, and $5.35 (critical for bulls to hold).
Resistance: Immediate resistance at $5.50, followed by $5.70, $6.70–$7.20, and $7.04. A break above $5.50 could signal further upside.
Bullish Case: If LPT holds above $5.35 and breaks $5.70, it could target $6.20–$6.50 (30-minute chart pennant breakout) or even $6.70–$7.20. Rising volume and a positive MACD on the 4-hour chart support this scenario.
Bearish Case: A failure to hold $5.35 could lead to a drop to $5.00 or the major support at $4.04. Overbought 14-day RSI (72.38) and bearish daily/weekly trends suggest a potential pullback.
Not Financial Advice, DYOR!!
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