Speculative LONG in LSCC

I've placed a speculative limit order to enter LSCC long. The reasons:

• The price formed a double-bottom pattern in August and September, which was broken to the upside.
  
• After reaching the last high on September 27th, the price corrected downwards, making nearly a 50% price retracement.
  
• The moving averages have made a bullish crossover. The 50-day SMA now supports the price movement and has turned upwards.