LB has been trending up for several years but found resistance at the $50 half figure. At this price the trend stagnated a little - on the weekly chart we can see that the 50ma stopped acting as a solid support and was breached on several occasions for several weeks at a time. The trend continued but became less predictable to trade.
In mid-August 2014 another upward trend began but until it broke the December 2013 pivot high it was of no interest to longer-term trend traders. Then, after a couple of fake breakouts in September/October, November saw price trade above $70 which was an early opportunity to buy this stock.
More recently, however, a bullish flag began to form. This flag was confirmed on yesterdays breakout bar. If price continues its momentum to the upside another chance to buy LB could soon present itself.
In mid-August 2014 another upward trend began but until it broke the December 2013 pivot high it was of no interest to longer-term trend traders. Then, after a couple of fake breakouts in September/October, November saw price trade above $70 which was an early opportunity to buy this stock.
More recently, however, a bullish flag began to form. This flag was confirmed on yesterdays breakout bar. If price continues its momentum to the upside another chance to buy LB could soon present itself.