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  1. Home
  2. / Investing
  3. / Basic Materials

Louisiana-Pacific: Tucked-Away Housing Play With 15% Build on Horizon

A small double-bottom pattern gives us an upside target of $19 to $20.
By BRUCE KAMICH
Oct 12, 2015 | 10:45 AM EDT
Stocks quotes in this article: LPX

Looking at some cyclical names, we stumbled on an interesting chart of Louisiana-Pacific (LPX).

In this chart of LPX, above, we can see a low at $14 in late July and a successful retest in late September. This small double-bottom gives us an upside target of $19 to $20. Prices have rallied over their August highs and the On-Balance-Volume (OBV) also turned up in late July.

In this chart, above, prices have been held captive in a $13 to $19 trading range. If the double-bottom pattern plays out, then we should see a breakout from this $13 to $19 range and a possible retest of the 2013 highs at $22.

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TAGS: Investing | U.S. Equity | Basic Materials

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