Leading Brands (LBIX) really got going in March when it broke out above the 2004-2005 highs around the 2 level with a big burst in volume. The stock then pulled back and flagged, but broke out again and has been moving up with higher highs and higher lows.
The move that took place from the middle of June to the beginning of July thrust the stock to a new all-time high, and it then consolidated in a bullish flag formation before breaking out last Thursday and Friday. A beautiful intermediate- to long-term move is underway, and I expect this should continue, with trading targets in the 8.5, 11 and 15 zone, short-, intermediate and long-term. Short-term support is around the 5.25 to5.35 zone. A beautiful intermediate- to long-term move is underway, and I expect this should continue, with trading targets in the 8.5, 11 and 15 zone, short-, intermediate and long-term. Short-term support is around the 5.25 to5.35 zone.