P.I.T.
Long

Buying the biotech pullback

NYSE:LCI   LANNETT CO INC
After the earnings release, LCI             fell off the cliff             and recently found its ground at the 46.50 support level . Waiting for a slight pullback before entering long. Reasons to go long are quite simple:
- Bullish up trend.
- Price rejects the 46.50 support level .
- Consistent growth of EPS             over the last 6 quarters.
- Bulls that have bought on earnings day are squeezed.
Stop loss hit, I'm out with a 1R loss. Onto the next!
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