Lonrho gained 2p (+16.33%) in todays trading session, making it the largest riser in the DIY-Investors research list. Looking at the SP graph, the highest price since the peak (in the last two years) of 14.5p, reached on 13/04/2010 looks vulnerable. The technicals look good, with OBV increasing and strong RSI. If it breaks through the 14.5p level tomorrow and stays above it at the close, where do you think it's next resistance line is?
I favour a level of about 22p. Any other views?
Thursday 7 October 2010
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