LEVEL 3 (LVLT)

[mr_bitterness]

This stock wants to run. It's been on a tear for weeks now. Look at the last 6 days candle chart. Last 2 days look very bullish for the near-term future. Big moves all 6 days. Volatility :) Best close for today would have been $3.65. Would have liked min $3.57 ... This has been a tough area of resistance all year and into last year. Broken briefly 2x recently but not turned into support yet.

Chart is coming back from a bad place. All indicators very strong but not yet overbought. Should move well if it moves. Surprise good news would be too good right now.

LVLT has traded very little in the $3.50 - $4.50 range in the past 52 weeks. Mostly $3.00 - $3.50 and the rest equally well above or well below - but very little time in that zone. Seems to be rallying for some $3.50 support. New base coming? I would expect $3.65 to be important. I would also expect a gap up or other quick jump over the $4 wall and then a new range of $3.50 - $4.20. That and another good Q could shake the shorts out.

If that base holds and $4.25 starts coming up, next Q pre-earnings run could pop to $5.50 area.

That's my story and I'm sticking to it!
That is, until I change it as the situation changes.