Posted by Tom C.
I almost passed on LNC (as a "u-turn"-type setup), because I wanted the trigger bar to close above the low of the OR, but it closed at the low instead ($6.61 vs. $6.62).
But I like the bottoming pattern and the move up off the 8 and 13EMAs, so I bought on a break of the trigger bar (yellow arrow). I exited the trade at the FE (Fibonacci lines plotted over the first 30-minutes).
I watched the 50% retracement for a reversal, but price action was bullish as it never closed below the 13EMA. Overall it was a great trade, returning around 8% (and as X says, a high volume stock that was easy to enter and exit).
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