Long LPL on Bullish Price Action

It's been a while since I've published an idea, but that hasn't worried me. I'm not in the game of trading just to trade. I'm in the game of making as much money as possible. If a move isn't attractive to me, I won't bother making it just for the sake of trading. Most of my recent research has been in foreign markets such as Russia, South Korea, and Vietnam, and a blog post will be up soon about that. In the mean time, let's look at LPL .

LPL's price action is golden, after lower high and higher lows, LPL's chart came into a consolidating triangle pattern and has since broken out on the weekly charts in a bullish manner. I took a position in LPL right when the price action broke the triangle, and risked 1% of my capital. I put my stop below the other end of the triangle which would signal a reversal in the price action and an incorrect thesis on my part.

Trading at 7 times earnings , and 11% discount to book value, LPL has the fundamentals to run, and being in South Korea, an economy that has bullish indicators, I like this play.

As always, shoot holes in this if you want.

All the best,
Comment: Here is the extended fundamental analysis on LPL.
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