LANNA : A breakout at 24.30 should see it hit 25 at long last.
March 16, 2011 Leave a comment
On March 6th we said of LANNA , “A breakout at 24 is possible for LANNA, but it will need more buying than the paltry flows seen of late. There is however strong support from 22.50 to 23, so if it comes off a tad consider entry again for another go at the key level of 24, with an increasing possibility of a successful breakout n the near term – placing 24.80 to 5 as the target zone. Entry as near 23 as the market offers up, or indeed if a breakout move is accompanied by strong flows – somewhere in the region of 3-5m shares going through at and around the 24 level over 15-30 minutes.”
The stock is at 24 now, and looks to us as if it will rally to 24.80-2.500 rather soon. Use 24.30 as the VST resistance and breakout point, and 23.80 as the first main near term support.