Did I say a potential breakout could happen soon? Yes I did, and I believe some of you knew that too. Raise your hands and leave a message on the comment box if you rode that bus.
Since that post, LT Group (stock symbol: LTG) went on a multi-week advance from the 15 area and trekked close to the 20 psychological level before taking a breather.
From the peak near 20, a decent retracement ensued, and now price has formed a hidden bullish divergence (green lines on the chart). This coincides with an extremely oversold reading in Stochastics, and therefore could indicate a bounce is coming. Will it be a strong or weak bounce? Nobody knows. All we can do is observe price action from this point on.
There is also an ascending trendline that could support price if ever it will deteriorate further. Personally, I would like to see 14-16 hold off any bearish threats. Topside, 20 is the line in the sand.