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Technical analysis shows data storage company LSI Corp. is set to rise.

LSI Corp. declined from $9.20 (U.S.) to $5.59 (A-B), rallied to $8.10 (C) and then settled in a trading range mostly between $6.20 and $7.60 (dashed lines). During this time, LSI traded below a falling trend-line for about 1½ years (dotted line).

Recent price action brought the price above the descending trend-line and suggests the stock is on the verge of a breakout from the horizontal trading range (D). A sustained rise above $7.75-$8 would confirm the start of a new up-leg. Only a decline below about $7 would be negative.

Point & Figure measurements provide targets of $9 and $10. Higher targets are visible.

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Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( Ron Meisels is a contributor to the website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

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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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