ASX: Lake Resources
Factors
1. Price has broken out of the recent downtrend (03/06/19 - 02/01/20)
2. There is a bullish candlestick printed where price broke the recent downtrend (02/01/20)
3. There is a gap at 5.4c which I would be looking to target.
Possible Reasons For Failure
1. Momentum may fizzle and close the gap below
2. Low volume on the initial breakout
3. 13/48 EMA doesn't crossover
4. Not much of a base has been established
1. Price has broken out of the recent downtrend (03/06/19 - 02/01/20)
2. There is a bullish candlestick printed where price broke the recent downtrend (02/01/20)
3. There is a gap at 5.4c which I would be looking to target.
Possible Reasons For Failure
1. Momentum may fizzle and close the gap below
2. Low volume on the initial breakout
3. 13/48 EMA doesn't crossover
4. Not much of a base has been established
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