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John Foxx/(c) John Foxx

From 2002 to 2011, LSI Corp. traded between $2.50 and $12 (not shown). During the last five years the price remained below about $7.75 (dashed line), however, LSI pierced above this level of resistance recently suggesting the start of a new up-move (A). The stock is likely to rise only to the top of the longer-term trading range near about $12, but a sustained rise above this level would signal the breakout from a 10-year base. Only a decline below about $7 would be negative. Point & Figure measurements provide an initial target of $12. The 2002-11 base supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. Ron Meisels is a contributor to the www.NA-marketletter.com website. They may hold shares in companies profiled. Please see the site for a glossary.

Chart source: www.decisionplus.com

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Infographic: Bullish on LSI

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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