Topic Statement:
Nearly three years after its IPO at 870, LICI trades only slightly higher, reflecting the limited post-listing returns even for a market giant.
Key Points:
- The stock is moving in a weak up-trending bullish channel, offering modest directional cues
- It retraced to the 61.8% Fibonacci level where it received support and has since rebounded
- Price now faces resistance at the 38.2% retracement level near 955, creating a ceiling for upward movement
- Accumulating the stock below the 50-day EMA presents a more favorable risk-reward entry point
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.