Wanna ride LIHC? Buckle your seatbelt for the angle of inclination is so steep.The inset box show the full chart since Nov 2007. LIHC is moving in a descending channel and got out last April 2008. Let's now zoom in on the short term trend after that. It consolidates inside an ascending triangle and breakout last June 3, 2008 then corrected the next day. Since this is already in the watchlist of many, when the price bounced at the support line, it is a clue to ride the train again.
For June 10, 2008 trading, support is at 8.80 (9.30 for June 11). Some levels of resistances to look at are 9.80, 10.25 and 10.75. If all those will be taken out, the next resistances are 13.25 then 16.25.
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