Early in June, I warned you about the chart “Death Cross” pattern, following week SP fell from $25 to $ 19.
Now I have good news , the LAC chart is forming a Golden Cross.
- A golden cross is a technical chart pattern indicating the potential for a major rally.
- The golden cross appears on a chart when a stock’s short-term moving average crosses above its long-term moving average.
- In our case it is 50MA crosses 200 MA. This is an extremely bullish indicator!
- This pattern most likely will happen Monday. Following the next few trading days, we can expect SP to propel to the $34-$36 range, barring another stock market crash of cause.
- All ahead.