Legacy Wine & Spirits International Ltd. LWSP
On Friday, LWSP closed at its high-of-day, so we’ve been eager for trading to resume today, as closing at the HOD is almost always a bullish indicator.
During Friday’s session, in which we saw the stock open at .0128, a low of .0112 was observed before the strong close at .0173, marking an intraday gain of 54%
One key point on which to focus would be the breaching of a significant resistance level at .015, which we’d like to see held as a future level of support, with a penny being the minimum level of support we’d like to see.
We’ve seen LWSP return to an area on the chart that has not been traversed since 2011, and there appears to be little in the way of resistance on up to the .03-.05 range.
Legacy imports and distributes wine and spirits in China. To find out more, visit http://www.legacywineandspirits.com
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