Although the day isn't over yet, LSCP broke through its 50 day moving average as expected. I am suprised it didn't hold up better with the Nas up 25. Unless it can rally back at the close, more sellers will probably jump on board and sell tommorow. The only positive is the low volume on this selloff so far. Next levels of support, $26.70, $22.50 and approx. $19.75. I just covered my short and will watch the action to see if another short position is warranted before the close. Good luck to all.
True, it was taken out in March, and positive news caused the stock to pop April 1st. The Nasdaq also rallied during this time in March and helped LSCP. It needs the same type of positive news or upgrade?? to get the stock back above its 50 MA or maybe another 100 point rally in Nas??