LOTCHEM Lotte Chemical Mid Term Analysis 24 Nov. 2015
Upside Prevails
Our Pivot: 5.51
Our Preference: Buy LOTCHEM above 6.41 and average it out till 6.22 with strict stop loss of 5.51 and profit target at 7.45 with extension towards 7.90.
Alternate Scenario: Closing below 5.51 will call for 4.94.
NOTE: LOTCHEM is getting support from a rising trend line along with a horizontal supportive area. Weekly Stochastic also have generated crossover so its recommended to initiate new buying on given prices.
Recommendations:
Buy above 6.41 and average out till 6.22 with target at 7.90
Weekly Chart with Supports and Resistances:
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John Doe
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