LWLG....as I expected, has held the $1.35 support area - twice - and is now grinding its way back higher to attempt another break out above the $1.50-$1.60 area. While this stock does not trade "enough" volume for traders to really be involved, in truth, that is not the kind of stock that LWLG is - though, it does have periods when trading it is possible (as seen in the recent period a few months ago). In reality, it is trading beautifully these days - compared to years in the past. It trades solid, controlled volume and very orderly - with no wild sell-offs. I wish all otcbb stocks traded so rationally.
Absent more good news, I have no expectations of an imminent break out here - though, I believe, eventually, further good news like what investors have seen over the past year will continue to propel this stock higher. In the meantime, the stock is showing great resilience these days, as past price run-ups - like the one we saw several months ago - historically would have returned the share price right back to the .65-.75 range.
Significant bidders were buying the stock in the past few days - and by that I mean two market makers representing buys of nearly $65k between the two of them. That may not seem like a lot of money to some - but, for this stock it is. I, for one, do not believe this to be retail buying.
All of these are just my technical and fundamental observations of a stock I have owned and followed for ten years now. I own my shares for the big payday now - having sold, as I always do, other shares earlier to secure myself.
Best,
Ian
