Our ALGO engine triggered a sell signal in LLC into the ASX close at $17.88.
The “lower high” pattern is referenced to the October 17th high of $18.70.
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Shares of LLC have risen about 16% since posting solid H1 results three weeks ago, which included a $500 million share buyback scheme over the next 12 months.
However, the internal momentum indicators are now approaching overbought territory.
We see strong technical resistance in the $18.15/20 area and expect the share price to revert back to the $17.20 support area over the near-term.
Lend Lease
