The price action of Lopez Holdings Corp (LPZ) stock, as can be shown in a 15-year time-frame based on daily chart is already located near a very strong resistance trendline.
chart courtesy of http://fm.advfn.com/
This resistance trendline is located above 78.6% fibonacci retracement estimated at 8.99/9.0 and 9.10. Once this trend-line will be broken, next price action is approaching to a line of least resistance with an initial target price of 11.
There may be exhaustion in the current level located at 8.99, 9.0 and 9.10 as these levels seem hard to break.
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