blindfreddy
Long

Cup and Handle Pattern in Lannett Co

NYSE:LCI   LANNET INC
We seem to be getting a cup and handle forming in LCI             at the moment, a classic pattern favored by the O'Neil school of thought. In my book this is an excellent company going for a good price, and with current merger and acquisition activity in the sector I think it has a catalyst for investor interest.
When a stock hits 50 on the Twiggs Momentum scale (50 day or 10 week) it is no mean feat and a sign of strength.
This chart exhibited the other thing that often happens when a stock hits 50 on the T.M. scale - its considered overbought and falls away. I timed this to perfection in the wrong direction, unfortunately you win some you lose some and move on..the trick is to maximise the winners. My backtesting on TM shows its a winning approach but 40 to 50% losers like most trend following systems.
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