LPCN Entering at Support Level
Price seems to have a lot of support around 1.80, which looks like a nice point to enter. I would wait and see what this week holds, as I suspect it could go test that support again. I see this stock as a long-term play, but the price might oscillate around that support once more before rising.
I will pay attention to the MA90 crossover, as it could indicate a downtrend. if it isn't strong enough, I suspect the price to recover quickly and try the 2.25-2.40 resistance zone again.
Trade well!
I will pay attention to the MA90 crossover, as it could indicate a downtrend. if it isn't strong enough, I suspect the price to recover quickly and try the 2.25-2.40 resistance zone again.
Trade well!
Note
Seems like there was indeed a lot of support at 1.80. I am expecting a possible bounce-back if we do not go below 1.60.Trade closed: stop reached
Got out at 1.84. Watch the support at 1.40. If the price breaks through it I would consider the bullish trend over on this one for now, but a bounce back might happen there.
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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.