Lpath Inc fka LPTN

[RNsidersbuying]

A few buys this morning at less than 1/2 Hard Cash remaining - wonder what the (should be) institutionalized halfprice sellers turned to buy?

Today's tweet from the street:

One under-$10 biotechnology player that's starting to trend within range of triggering a major breakout trade is Lpath (LPTN), which focuses on the discovery and development of lipidomic-based therapeutic antibodies to treat a range of human diseases in the U.S. This stock has been destroyed by the sellers over the last three months, with shares down huge by 89.2%.

If you take a glance at the chart for Lpath, you'll see that this stock gapped down sharply lower in May from around $1.75 a share to under 50 cents per share with heavy downside volume. Following that move, shares of Lpath have started to stabilize a bit, with the stock consolidating and trending sideways between 21 cents per share on the downside and 34 cents per share on the upside. This stock has started to tick up a bit off that recent 21 cent low and it's beginning to move within range of triggering a major breakout trade above a key downtrend line.


Market players should now look for long-biased trades in shares of Lpath if it manages to break out above a key downtrend line that will start to trigger over 28 to 30 cents per share and then above more resistance at 32 to 34 cents per share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 600,911 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its gap-down-day high from May at 46 cents per share. Any high-volume move above that level will then give shares of Lpath a chance to re-fill some of that gap-down-day zone that started near $1.75 a share.

http://www.thestreet.com/story/13213765/2/5-stocks-under-10-set-to-soar.html