LeapFrog Ready to Make the Leap Higher

• Posted by Greg Harmon
• on June 25th, 2013

Leapfrog, $LF, has had a tough time getting through resistance at 10.15. After falling below it in September 2012, it has come back to touch it several times to no avail. The last approach has been a consolidation under it since mid May. This also looks like the Handle in a Cup and Handle formation. Could this be the time for it to leap over the top? There is one big sign that it might be. The Bollinger bands have become tighter than they have been in a year. But Tuesday, a Spinning Top Candles, signaling indecision and potential for a change, is being met with those Bollinger bands opening as the price

probed the top of the range. It is time to get ready. It may not happen today or tomorrow, but the strong accumulation/distribution, coupled with a bullish Relative Strength Index (RSI) and Moving Average Convergence Divergence indicator (MACD) that is improving all support upward price action. It also has nearly 20% short interest to help squeeze it higher. Look for the break of 10.15 as your entry.

Join the Dragonfly Capital Views Premium Membership

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through June 2013 Expiry and sign up here.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus