LDK is displaying very positive signs and in my opinion is ready to launch higher. Stock is ready to enter major wave 3. 

Elliott Wave and Technical Analysis

Last time I wrote about this stock I was not sure if it’s bottomed and said to be careful. But this time is different and i see many positive indicators about LDK. First you may see big divergence between MACD and stock price. Also i see that RSI did not made new lows while price tanked a lot.

From Elliot wave perspective I’m sure we just had major wave 2 bottom. It could happen that price could retest wave 2 lows, but it’s not very likely. I expect that at least major wave 3 may top at $117.00, but let’s wait few months to see how this unfolds.

Tags: LDK

This entry was posted on Monday, November 19th, 2007 at 11:20 pm and is filed under China. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.