Ribbit! Ready to Leap

LeapFrog Enterprises, $LF, is one to put on your radar before it jumps higher. From the daily chart below it has bounced off of a double bottom at 8.18 and now testing resistance at 9.45 above. Will it revert lower, building a consolidation channel? The Relative Strength Index (RSI) trending higher

LeapFrog Enterprises, $LF, Daily

and making a new high along with the positive and growing Moving Average Convergence Divergence indicator (MACD) support a break higher. Translation: A move over 9.45 has a tailwind higher. The 10.10 to 10.25 area is the next resistance with previous price history there and the confluence of the 50 and 100 day Simple Moving Averages (SMA). That is 6.8% to 8.4% higher!

LeapFrog Enterprises, $LF, Weekly

But this stock also looks good from a longer term weekly view. On this timeframe it has retraced 38.2% (a key Fibonacci level) of the move higher from early August and after a touch at the 50 week SMA is now moving back higher. The weekly view says go ahead and get in now, no need to wait for a break of 9.45

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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