Lexaria Bioscience Corp (LEXX)

[Fallingknife75]

I have a small bid in at .81 due to the due to their being a support level at .80 along w/the 50wk moving average providing support.

http://schrts.co/GnbSR8

On the Daily chart you can see that the RSI is below 30 which indicates an oversold condition as well.

http://schrts.co/4GFonf


I won't start buying large blocks until I see the chart start to reverse or a catalyst such as new licensing deal causes a demand increase. I am just nibbling at support levels as I think the shares are a great value at these prices but there may be more downside, only time will tell. The last block of exercised warrant shares (500k) has probably made it into the market by now but there are still a good number left to be exercised later this year. When the next filing comes out it will be easier to track the remaining Warrants.

All the best,

Knife