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The chart for LGEN is one of channels within channels, leading to lots of resistance levels for the price to overcome.
I've been following this chart for some time and I agree with ChartMan, that the next major price target is a round the 185 level, if it was to break above this then we're looking at the 192 as a target.
The support level for LGEN is at 164, therefore the price is in the middle of its longer trading channel, but at the top of its short term channel.A move above 176, would be a positive sign, as this would show a short term break out and the likelyhood of the price running up to the resitance at the top of the longer channel -185.
You would need to check other key indicators as well as the price,to confirm a positive move up.
Hope that this helps.
The chart for LGEN is one of channels within channels, leading to lots of resistance levels for the price to overcome.
I've been following this chart for some time and I agree with ChartMan, that the next major price target is a round the 185 level, if it was to break above this then we're looking at the 192 as a target.
The support level for LGEN is at 164, therefore the price is in the middle of its longer trading channel, but at the top of its short term channel.A move above 176, would be a positive sign, as this would show a short term break out and the likelyhood of the price running up to the resitance at the top of the longer channel -185.
You would need to check other key indicators as well as the price,to confirm a positive move up.
Hope that this helps.
