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Lumentum (LITE) Bullish Channel Setting Up

Lumentum (LITE) Bullish Channel Setting Up

by | Oct 12, 2021 | Chart SetUps

Lumentum (LITE) showing relative strength on 10/11 and closing just off the highs as shares set up well in a bullish channel under $86. Shares closed above the short-term moving average cluster at $84.50 and a breakout has room to $90 and then ultimately towards a big volume node at $98.50. Shares are hitting the ‘ready to run’ scan today with MACD right at a bullish crossover and RSI leading the move higher out of a downtrend.