Our pick last week was LTEA. And it has been another very strong one, moving as much as 42% higher from the alert price, and following our technical map almost perfectly.
At this point, we know this company has a number of very strong catalysts working in its favor, and we’ve highlighted those along the way.
But today, I want to point out some key technical factors in play.
The first thing that hits my eye on this chart (see below) is the strong, high volume thrust off of key $4 support. That generally puts the 50-day simple moving average in play on a chart like this.
Right now, that line is skirting right along the June/July trading range lows, which provide another tough-to-avoid technical target.
All of that suggests traders want to seek and destroy shorts in LTEA up into a flush point around the $6.60-7.00 area.
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