Lightwave Logic Inc (LWLG)

[gfp927z]

50% retracement of the recent move (1.50 to 17.24) puts the stock at 9.37.

Alternately, using 14.93 as the high (closing price on June 29), the 50% retracement level would be 8.22.

Summary of current support levels to watch -

9.37 - 50% retracement

8.27 - 20 day EMA

7.60 - 20 day SMA

7.00 - the mid-June consolidation level

4.00 - 50 MA and the early June consolidation area


Based on the chart, the 7-8 range looks like the likely target for the pullback.