LA JOLLA PHARMACEUTICAL CO - NASDAQ: $LJPC Requires Your Eyes After breaking to higher ground back in June on large volume, shares of LA JOLLA PHARMACEUTICAL CO - NASDAQ:LJPC have been drifting in a sideways pattern consolidating the move in a constructive manner as we can observe from the Daily chart above.
With the stock trading above all of its important moving averages 20/50/200 DMA's, LJPC remains in decent technical shape, albeit, a bit of work remains.
Thus, both investors/traders may want to continue to monitor the action in LJPC moving forward and more specifically, should the stock be capable of going topside of the $10.90 figure and can 'stick', such scenario, should it develop, would likely signal/trigger its next meaningful advance with and initial objective of $14 and a secondary objective in the $16 area.
Nonetheless, LJPC continues to display fairly decent action and both investors/traders may want to put the shares front-and-center on their radars awaiting further clues/evidence that things may be about to pick-up.
LJPC
LJPC - Speculative Flag play from $34.13 to $41.89LJPC had a huge jump & now seems forming a flag formation. The flag break did not occur yet, however in hourly frame we can see that it got nice base of support in the moving averages and seems getting ready for breakout. So we would like to take a speculative entry around $34 & our target would just below $42
* Trade Criteria *
Date First Found- February 28, 2017
Pattern/Why- Flag play
Entry Target Criteria- Break of $34.13 (Hit March 1, 2017)
Exit Target Criteria- $41.89
Stop Loss Criteria- $32.33
Please check back for Trade updates. (Note: Trade update is little delayed here.)
