feelsgains

LPCN Entering at Support Level

Long
NASDAQ:LPCN   Lipocine Inc
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!
Comment: 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.