We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the LSI Corporation. (NASDAQ_LSI).
I hope you are having a GREAT week !!!
This week let's take a look at how the LSI stock chart looks with the MarketClub Trade Triangles.
With stocks we use the monthly MarketClub Trade Triangle to tell the trend and the weekly MarketClub Trade Triangle for timing.
LSI is on a monthly green Trade Triangle which means the trend is up.
LSI went on a red weekly Trade Triangle as it made a counter trend correction. LSI went on a green weekly Trade Triangle today 7/11/13 which means the counter trend correction is probably over.
With both the weekly and monthly Trade Triangles green, the MarketClub system is long LSI, and the money management stop would be if LSI puts in a weekly MarketClub red Trade Triangle.
So LSI is a Chart to Watch as higher prices could possibly be on the way.