Pressure was unbearable for Leisure & Resorts World Corp. (stock symbol: LR) holders, so price have fallen back to the range since my April 6 post.
LR followed the bearish script on that post, falling close to 6.50 before making its (current) rebound. The Money Flow Index (MFI) has made a small bullish divergence in the process.
Bulls could have a tough task of breaking through a near-term resistance area: 7.00-7.50 which has a descending trendline tucked right above.
TP’s Advice: Failure to stay above the 7.00 level indicates continued weakness. Be careful of this stock. Having said that, an extended consolidation between 5.00-6.00 and 8.00-8.50 remains a possibility.
Do you have LR in your portfolio? Share your thoughts below!