LEVEL 3 (LVLT)

[dmlabuda]

The Rally Won't Last - Why, you ask? Technically speaking we now have a Bear Pennant in the form of a Rising Wedge on the LVLT chart which is ALMOST Always a sign of lower prices especially in a Bear Market which is now the current market condition. I expect the price to drop soon to at least the $1.47 to $1.50 area where we have a breakaway Gap on the Daily price chart. IF you're a swing trader, this is a good time take profits and look to buy it back later on. Long term prospects for this stock may still remain good depending upon current fundamental data. This is purely a current technical analysis of the current market condition.
LVLT - Daily Candlesticks