Long
Positive movement from earnings may break current resistance.
LCI is currently trading near a downtrend resistance line with earnings next tuesday. 9 out of the last ten earnings reports have seen positive moves upward or at least traded flat a week or two after the release. Increasing fundamental indicators as well as a recent approval for a generic drug, a month ago, in July contributed to the recent reversal of the downtrend. The company is up 70% from its low in April but is still down 32% from its price last August. Positive earnings may support a longer upward move.
Note
Exited at 38.52, possibly ready for a re entry
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.