Will this be a great summer courtesy of Leisure Resorts? This is one stock I'm watching right now. It has been on a downtrend since April of last year and just about this year, it seems like it's starting to make a reversal. From the chart, I see an inverted head & shoulder pattern in the making. Breakout point is at its neckline around the P2.90 level. Today's close of P2.60 is above its 65 day MA and slightly below its 130 day MA. MACD above zero. I see resistance though at the P2.70 level. Good entry point would be upon breakout at P2.90 - P2.95 level. Is the long wait over for LR?
Thursday, March 6, 2008
Leisure Resorts
Will this be a great summer courtesy of Leisure Resorts? This is one stock I'm watching right now. It has been on a downtrend since April of last year and just about this year, it seems like it's starting to make a reversal. From the chart, I see an inverted head & shoulder pattern in the making. Breakout point is at its neckline around the P2.90 level. Today's close of P2.60 is above its 65 day MA and slightly below its 130 day MA. MACD above zero. I see resistance though at the P2.70 level. Good entry point would be upon breakout at P2.90 - P2.95 level. Is the long wait over for LR?
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