Liberty Star Uranium Corp a Super Strong Penny Stock

LBSR is an extremely strong penny stock.  The consolidation we were looking for did not happen and LBSR decided to not waste any time and bust right above .07 in a very strong follow on breakout above resistance.

This is by far one of the strongest penny stocks I have ever seen.  It now appears that the short and brief consolidation that occurred during the last 5 trading days was just a bullish flag pattern.  This could mean that we have another two days up perhaps moving above the .10 range.   Straight line moves into a flag pattern can lead to another straight line move equal to the first one.  So the first move was from .03 to .07, a total of .04 pennies.  So a breakout from .07 leads to a follow on move of .11 cents as a target.   So we could be targeting .11 in the days ahead before LBSR tops out into a much longer consolidation.  At some point we will, but price has to blow itself out.

It is going to be interesting to see if .11 would mark the intermediate term top.

This is the kind of penny stock action that you want to see.  LBSR could have easily decided to go into a longer consolidation right now but instead it chose to blast higher without waiting.  This is a sign of strength and it has to be respected.  These are the types of penny stocks that I always try to find because they make it a lot easier to stay with the trend.

There is a resistance zone at .08 cents so it will be key tomorrow to get immediate follow through and another strong candle or there could still be a risk of a return back down.

But for now strength has to be presumed in LBSR.  I will post up another updated chart tomorrow. . .