NASDAQ:LXRX   Lexicon Pharmaceuticals, Inc

LXRX has gained over 100% in the past month

However it appears to be forming a double top
in a potential short trade setup on the two hour chart.

The K/D crossover on the hot RSI oscillator provides

Short Sale Volume is rising in the past two days.

Findamentals - LXRX has a new medication for heart failure
a common medical problem with a massive market
It recently launched a public offering to raise capital
to fund general operations and in doing so
diluted the share holders. The good news is
it is unlikely to do another in the near term.

An entry would be at the current price with a stop loss
above the highest volume bar on the profile.

The first target is the POC of the volume profile
about a 15% price drop . The second target is
the pivot low on August 1st for another 15% drop.

Taking of 1/2 at each target yields an expected
23% return over a period of about 5 trading days
since drops are faster than rises.

The call options of mid September have low volumes
so I will not consider them.


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