Monday, July 11, 2011

Trade Idea- LEE (long)

This is speculative for a lot of reasons, but t may produce some follow through buying.

 Here's the apparent resistance zone in red, if LEE can close near or at the top of t's range today, t would be bullish for the possibility of follow through buying.

 Here's the daily 3C chart

And the hourly chart. It seems there has been a lot of accumulation and LEE hasn't burnt through that much volume the last 2 days, the assumption being, there may still be accumulated shares that need to be distributed into rising prices. Look for a strong close. Remember-VERY SPECULATIVE

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