LTC had quite a run last night. We saw a pullback which is to be expected. I am posting the 4 hour chart but one thing to pay attention to is that a doji is forming on the daily chart. This is a sign to tread lightly since a further pullback could be in order. Long term holders will obviously not be too concerned about this since I would guess any retrace is temporary.
One the 4 hour, the 7 SMA (blue line) is moving up nicely towards the price (denoted by arrow). This is not uncommon for a stock to move back towards it moving average after a run. It is part of the ebb and flow of the market. I would suspect that when the moving average and the price meet, LTC will bounce up off it. Use the previously ATH as new support.
On a side note, Charlie Lee gave a wonderful interview the other day. Please let me know in the comments if you want me to do a write up about what took place and what his plan is for LTC.
