The chart is a 3 box reversal Point and Figure chart.
The chart is based on daily high and daily low prices.
The chart is a 2% logrithmic chart, ie each chart box represents
a price change of 2% of the value of the box above or below it.
Four possible support prices and three possible resistance prices
are shown, as well as the support/resistance lines.
A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
point.
LU is trading within an overall bullish trading channel. LU seems
to be forming a triangle breakout pattern within the overall bullish trading
channel. The direction of the breakout is not yet determined. LU is currently
in a downtrend column ('O'). Resistance may be seen at points R1 through
R3. Should the downtrend column ('O') reverse, resistance may be seen at
points R1 through R3.