Recently we traded LXRX -Lexicon Pharmaceuticals off of our small cap breakout scanners in the Ichimoku chat room. We have been waiting for the stock to have a major pullback to reenter the trade. We believe this happened today as the stock pulled back to its Daily KS which is the green line on the attached chart and it is also referenced by the horizontal line at 2.54. We purchased the stock between 2.50 and 2.54. Currently our stop will be a break of 2.35. Our first target will be the Daily TS or the red line which is currently around 2.85 and we will sell half.
Until then……
