LITE Bounced From Key Support Level of the Bullish Channel

Lumentum Holding stock price fell sharply earlier this week as market sell-off resumes. Where, price fell to test key support level as seen in the chart. In which, price bounced quickly bounced from this level. Nevertheless, price could fall lower to test final support level, before we could see a bearish reversal.

Trade Step-ups:

Bullish Reversal: Price rejects a move lower to test the final support level. Profit levels to look for are 70.00 & 77.00 respectively.

Bearish Breakout: Price breaks the current support level, look for a move to test the final support level.