LC 1W: When the Market Spreads Its Wings
On the weekly chart of LendingClub (LC), a “golden cross” has formed - the MA50 crossing above the MA200 from below, confirming a medium-term trend shift in favor of buyers. The current price of 15.30 is trading within the 0.705–0.79 Fibonacci zone (14.54–15.32), which now acts as a key support after the breakout. Structurally, the asset is moving within a broadening ascending channel, suggesting potential for increased volatility and range expansion.
Technically, the market shows strength: the upward impulse was accompanied by an abnormal spike in volume, both MA50 and MA200 are positioned below the price, and the nearest resistance is at 17.26 (1.0 Fibonacci level). A breakout above this area opens the way to the 1.618 extension at 22.95–23.02. The scenario is invalidated if the price closes below 12.65, which would pull it back into the previous descending structure.
Fundamentally, LendingClub benefits from easing tensions in the US debt market and moderate growth in consumer lending. Positive earnings momentum and the resilience of its business model add further confidence to the bulls.
Tactical plan: as long as the price holds above 14.54–15.32, the medium-term growth scenario remains valid, targeting 17.26 and 23.02. The optimal entry would come after confirming the support hold and spotting a local reversal candlestick pattern on the daily timeframe.
As they say, a golden cross isn’t just an indicator - it’s a first-class ticket to the trend league. Just make sure you don’t miss the flight.
source https://www.tradingview.com/chart/LC/BJ6z6pxa-LC-1W-When-the-Market-Spreads-Its-Wings/
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