Aug. 17 at 9:22 PM
$LOGC - The next target is around
$16. The stock is currently in the RSI overbought zone. A healthy pullback to around
$10.30, followed by a retest, should help cool down the RSI. It may retest the
$10.30 level a couple of times before moving higher toward the
$16 area.
When the Q3 results are released in November, including the combined financial results of the two companies (US Salt and eChem), the stock price could potentially spike into the
$25–
$30 range. If that area is reached and holds, then
$50 could become the next major target.
The more the stock stair-steps higher while successfully retesting previous breakout levels, the more stable and sustainable those price levels should become, reducing the likelihood of a sharp drop.
We are in a bullish marathon, thankfully not a sprint. The longer this stair-step pattern continues the stronger the overall trend will be and the potential for higher prices.
Patience pays!
