LUM 0.00% 2.3¢ lumacom limited

for gaga

  1. 10,543 Posts.
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    Hi gaga,

    I must apologise for taking such an extraordinarily long time to do this chart for you despite numerous requests. I am easily distracted :-( - Just back from a day in Sydney.

    None the less here it is and you will no doubt be happy to see Fridays breakout confirmed again in todays otherwise flat market.

    More to the point you will note that todays close at 56c is spot on the last record high for LUM back in July 2000 and this point is one of the deliniating levels for the rising Fib pattern confirmations of which I have marked with arrows (they are pretty obvious and numerous.

    I would expect LUM to consolidate again around this new level either testing the resistance or breaking through and then testing it as support before moving on to the next upward target which is 89c.

    Despite the quick run in the last two trading days LUM is still not showing as overbought.

    Click HERE to see the chart.

    Cheers,
 
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