Sunday, November 11, 2007

LC - huge volume



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LC = 0.4 (21.2%)

LC made a gap up cross with huge volume (897M).

LC made a deal with Zijin for a $70M project. Bullish news.

After opening with a gap up LC closed the trading at its open of 0.4. It is a bit of a concern that LC was not able to hold on to the highs of the day. It would be interesting to see on Monday how the price of LC would react following Friday's mixed sentiment.

LC was threatening to reach the ceiling price... but failed to do so and retreated back to its open... I think this is a bearish signal but I'm hoping that the bulls are still in control of LC.

I hope LC forms higher highs and higher low for the coming trading week and I really really hope that it would not close the gap up that it made on the previous trading day.

Support: 0.39 (gap up)
Resistance: 0.47

Good luck to all LC traders!
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