After a major news event for LND, with AGI becoming a major investor, LND has resumed its bullish momentum, after consolidating between 1.51 and 1.27 during the last two weeks. Breaking out from the 1.51 resistance of what appears to be a pennant continuation pattern, LND seeks to target the 2.10 target, when measuring the pole of the pennant.
Last December 9, 2010, LND broke free from a symmetrical triangle formation, before breaking out from what apparently is a two-year cup and handle formation at 0.87. And now, LND also has surpassed the last peak established at 1.48 in 2007, signifying that most of the ipits all these times are now gone, or are now unwilling to sell.
Stops should be placed just below the 1.38 levels. Enjoy the ride!
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