Louisiana-Pacific (LPX-N) rallied from $12.98 in March 2020 to $76.35 in May 2021 (A-B) and then settled in a wide horizontal trading range mostly between $50 and $80 for about three years (dashed lines). The recent rise above the top of this range signaled a breakout and the start of a new uptrend (C).
Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. There is good support near $79; only a sustained decline below $74-75 would be negative.
Point & Figure measurements provide targets of $95 and $105. The large trading range (dashed lines) supports considerably higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com