Lopez Holdings Corporation (LPZ): 15-Year Timeframe

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.

LPZ

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.

Disclaimer: This article is for information purposes only. There are risks involved with investing including loss of capital. The information provided in the website is only an opinion of the author and  does not constitute as legal advice, research or recommendation to buy or sell any securities.  The author of this article may be biased as he has accumulated shares of this stock.

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