The daily chart above of LUCE.L shows the price action and VectorVest leading indicators over the past year. The price action is shown in a candlestick format with three added moving averages to define the trend of the share.
The green line above the price is the VectorVest valuation of the stock and immediately it’s obvious that the share is undervalued by the market. The blue line study in the window below the price is the VectorVest forecast Earnings per Share (EPS). EPS has doubled over the last year. This is the engine that’s driving the share price upwards.
Using UniSearch on VectorVest shares that are undervalued and growing EPS strongly can be found with a mouse click.
At the start of July 2021 LUCE.L broke upwards through an area of previous resistance and has since tested this level twice. In the process the share has charted a technical setup first named by a trader of yesteryear called Richard Wyckoff as a “spring”. The “Wyckoff Spring” has been my favourite chart setup for 20 plus years as the formation predicts a fast and strong momentum move. I describe the setup in detail during my weekly webcasts.
Over the past few days LUCE.L has advanced strongly with the 5% up move on Wednesday 18th August occurring on rising volume. This is a good sign
LUCE.L is on a BUY recommendation on VectorVest with a stop loss at 383p. The VectorVest metrics for the fundamental measures of the share and the short-term and longer-term trend are excellent.
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