Hi everyone! Here’s a quick update on LR’s stock movement! This was one of the most requested stocks this week!
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For those who have not followed the stock, all the movement that you are seeing now is based on the news that LR and Galaxy will be opening a hotel in Boracay in the next futures. This hotel will have a casino and an integrated lifestyle resort complex.
LR will be earning passive income from Galaxy as Galaxy will be paying LR rental for the use of the land. This will give passive income for the stock for years to come. However we still have to compute and see how the earnings of the hotel will be and that will only be factored in once it actually starts to operate.
So the movement that you are seeing now, is investors just banking in on what the stock could be in the future and we don’t have you an assurance on what its earnings will be.
On a technical aspect, the buy signal was at the breakout from 4 and 4.40, what we are seeing at this point in time is a result of that breakout.
For quick traders, its failure to breakout from 7 is already a sell signal along with other short term chart overlays denoting a sell for the short term.
However for position traders, the trend is still up and a lot of price and momentum indicators are still showing the a bullish uptrend is still intact while volume still shows us that money is still moving in while all of this is happening. If you are a position trader we don’t have any sell signal yet!
I hope this video helps you in your trades! God bless you!