Lexaria Bioscience Corp (LEXX)

[Fallingknife75]

The downtrend in LXRP continues for the time being.

On the three-year Weekly chart, the RSI is low at 36, the shares remain below the 50wma and broke below the 200wma in July, the MACD is inconclusive. There is a historical support range from 2017 between .50 and .65.

http://schrts.co/DfNeTBmY

Zooming in a bit on the Weekly, the RSI remains at 36, the 20/50wma Death Cross from November remains with the stock still below both moving averages. Although the MACD had a Signal Line Crossover in August the separation remains negligible. The stock has bounced at .60 twice since July making it a reasonable support level for now.

http://schrts.co/tvBrxxyf

Moving to the Daily chart, the RSI is low at 39, the 50/200dma Death Cross from November 2018 remains with the shares still trading below both moving averages. The last bounce to .73 created a Bullish MACD Signal Line Crossover which appears to be fading.

http://schrts.co/AYAKAkuh

Zooming in the RSI is 39, the 20/50dma death cross remains even with the pop in August and the stock remains below both moving averages. The Bullish MACD Signal Line Crossover from a week ago is giving up ground and I expect it to fail.

http://schrts.co/KkCjwyMS

Although the company has made some strides towards increasing revenues (I use ChrgD+ daily) it remains off of the radar of most investors/traders. The new licensees coming on-line Q4 through Q2 2020 should bring both revenues and attention to the company; I expect this will turn the chart around. The Patent portfolio is both proven and desirable making them an obvious acquisition target, eventually. I believe the wait for LXRP to turn around is nearing an end especially with the upcoming law changes in Canada. I continue to hold my long-term position and will add to it on occasion, when the chart reverses definitively I will be scooping up lots of shares.

Upcoming license PR link: https://www.otcmarkets.com/stock/LXRP/news/Lexaria-Bioscience-Summarizes-its-Eleven-Technology-Licenses?id=235543

All the best,

Knife