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LECO Ascending Triangle

By Johns Wu on Oct 29, 2005

th_LECO.gifMy favorite setup, the ascending triangle. Keep LECO on your watchlists next week. It’s in a ascending triangle formation and could breakout to all-time highs.

It looks like it really wants to go above $40. Ascending triangles are so awesome.

If you play this chart before it breaks out, keep a stoploss right below the upward sloped trendline. If you play it after it breaks out, keep a stop-loss right below $40.

PS: Watch out for the earnings call on 10/31/05.

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This entry was posted on Saturday, October 29th, 2005 at 1:44 pm and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.


4 Responses to “LECO Ascending Triangle”


By Anonymous on October 30th, 2005 at 6:42 pm

jim cramer lovesLECO and i love it too

By Anonymous on October 31st, 2005 at 12:43 pm

What do you make of today’s action?

By JWU on October 31st, 2005 at 8:33 pm

todays action was driven by the earnings call… i haven’t had time to read the earnings report, but for now, all the action in the short-term will depend on how wallst reacts to the numbers.

it looks like they beat analyst estimates… so im not sure why the stock was walked down from the open today…

By Anonymous on November 1st, 2005 at 4:42 am

higher price should follow the high volume. this stock should be trading in the mid 40’s by the end of the year. if we can hold the mid 40’s, watch for a split in the middle of 06.

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