Lattice Semiconductor Corp (LSCC) recently had a breakout from the short downtrend and found support off the 50-day SMA. With the Ipad launch on Wednesday, I anticipate Tech stocks could see a quick influx of buyers. Unfortunately, I was unable to load up on LSCC due to the quick run-up after the downtrend. Now that it is near resistance, I will wait on either a rejection towards a pullback to add in this trading range or if it breaks above resistance with enthusiasm, I will quickly and aggressively add on the breakout with resistance turning to key support.
The OBV line gave an indication the downtrend was weak. I should have added more than I originally did when the OBV line formed a bullish divergence when compared to the price pattern.
As I’m writing this, LSCC is starting to touch the lows of the day so I may be able to get in a few buys if this weakness continues.
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At the time of publication, Kudrna was Long LSCC but positions may change at any time
