Stock in Focus: Lepanto Consol. Mining (LC)

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Following a steady decline in the past several months, Lepanto Consolidated Mining Co. (stock symbol: LC) went on a tear pretty much from the start of this year.

LC Daily chart, February 5, 2014

LC Daily chart, February 5, 2014

From a 0.30 low seen back in November and December, the stock rose close to 0.45 before the momentum ran out of steam.

The Money Flow Index (MFI) has steadily declined along with price, and is now ready to revisit the 50 level if price eases further.

I expect an intense battle soon, if this stock revisits the area of 0.30. Recall that 0.30 is the low for over 3 years.

Upside near-term target is 0.50.

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