We've been following LMND since the initial bottom in April. With a clear downsloping demand line and defined over head resistance, this would be typical behavior of a Right angled and descending broadening formation that Bukowski studied.
The measured move would be a 2.0 extension of the range, but conservatively, id look for the double bottom measured move into common retracement levels.
There is confluence with the 50% retracement there, and historically thats where we would head above 16.73.
Id expect a correction from 32, and ultimately form a partial decline maybe for a checkback of 23. Anything within a .618 retracement from there would be fine, but ideally youd want to see it hold 16.73.
The measured move would be a 2.0 extension of the range, but conservatively, id look for the double bottom measured move into common retracement levels.
There is confluence with the 50% retracement there, and historically thats where we would head above 16.73.
Id expect a correction from 32, and ultimately form a partial decline maybe for a checkback of 23. Anything within a .618 retracement from there would be fine, but ideally youd want to see it hold 16.73.