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.
Comment:
Exited at 38.52, possibly ready for a re entry