I am looking at a break of the $2.60 level to confirm breakout.
-Price tightening within wedge for 3+ months (depending on how you draw the wedge) and completing what appears to be the right shoulder of an IH&S. (The midline, as I have drawn it, fits very neatly).
-Price has recently experienced bullish diverging of EMAs with recent strong support found at the 50 EMA (purple) which also happened to be the midline of the H&S pattern.
-Price is coming off of .786 retacement from move off Nov '19 lows which tells me the stock may be in a potentially bullish impulse move
-Currently testing VWAP from the high on 2/19/20
-MACD upward trajectory appears very aggressive.
I like this one over $2.60. Assuming LPTX is indeed in the midst of a wave 3, and the .786 retrace was the wave 2 pullback, I have measured the minimum target as a 1.0 extension to the Wave 2 low which = $3.8.
-Price tightening within wedge for 3+ months (depending on how you draw the wedge) and completing what appears to be the right shoulder of an IH&S. (The midline, as I have drawn it, fits very neatly).
-Price has recently experienced bullish diverging of EMAs with recent strong support found at the 50 EMA (purple) which also happened to be the midline of the H&S pattern.
-Price is coming off of .786 retacement from move off Nov '19 lows which tells me the stock may be in a potentially bullish impulse move
-Currently testing VWAP from the high on 2/19/20
-MACD upward trajectory appears very aggressive.
I like this one over $2.60. Assuming LPTX is indeed in the midst of a wave 3, and the .786 retrace was the wave 2 pullback, I have measured the minimum target as a 1.0 extension to the Wave 2 low which = $3.8.
Incase you want to view them on your own:
-Anchored VWAP can be found in the second option down on your drawing tools, then click on the candle you wish to view VWAP from
-I measured fib retracement from Nov '19 low to Feb '20 high, the .236/.786 should line up with the March '20 low.