LKQ is currently at a resistance point of a downtrend channel that started back in December 2021.
Watch for LKQ to break that trend line. A break would mark a potential reversal of the downtrend.
I'll be entering a long position on the break, with a stop at 49.50.
The ideal situation is if we break 51.60/51.70, then maybe we can fill the small gap at 53/53.50.
Next targets are 56.48 and 60.14.
Trade safe
Watch for LKQ to break that trend line. A break would mark a potential reversal of the downtrend.
I'll be entering a long position on the break, with a stop at 49.50.
The ideal situation is if we break 51.60/51.70, then maybe we can fill the small gap at 53/53.50.
Next targets are 56.48 and 60.14.
Trade safe
1st target is reached.
Maybe we see a backtest of the red line before going up again.