It keeps being rejected each time it crosses over 18.50 resistance and weekly and daily strength indicators are strating to show weakness. If the weekly MACD crosses down, close the position..
WATCHLIST: Add LCUT(3)
Yesterday looks like it was a false move. Today got rejected above 18.50 resistance and closed at the low of the day on increasing volume from yesterday. I’m expecting another retest of the pivot arount 17.16. Depending on how it reacts there, add he remaining 40%.
PENDING: LCUT(2) 40% Long
Looks like the low of yesterday was the mentioned retest of the pivot. Today made back most of the losses and closed back over the 18.50 resistance. The volume could have been higher, but was still relatively high. Place a 40% order just above today’s close.
WATCHLIST: Add LCUT(2)
Got hammered today on relatively the same amount of recent volume. The pivot, 20 and 50SMA’s are all converging at the same place. Wait for a retest of the pivot. If it passes add at least a 40% position.
PENDING: LCUT(1) 20% Long [UPDATE]
Solid move over 18.50 resistance on increasing volume. The opening gapped over my limit order, so it didn’t trigger the buy. It closed with some pullback, leaving an upper wick about the same size as the body. Keep the order open in case the pullback continues and retests the 18.50 area.
PENDING: LCUT(1) 20% Long
There was no pullback to the pivot. Instead big volume and a big move up. Strength on the daily increased and weekly still looks strong. MACD crossed. ADX is still low at 14.5, but moving up. Still haven’t closed over the 18.5 resistance, so start a position, but keep it small until it does.
WATCHLIST: Add LCUT(1)*
Fundamentals look inconsistent, but overall good. Average EPS beat is 200.48%. Last 2Qs were expected to be EPS losses, but were positive surprises. Revenue has shown consistent growth. A year ago the Net income was at a loss, but has swung to profit each Q since. 3 and 4 Qs ago showed big gains, but…