Lexaria Bioscience Corp (LEXX)

[Fallingknife75]

LEXX has had a long term trend reversal setting up over the last few months. I considered the high volume spike in early May as the likely turning point. Since then a 50/200dma Golden Cross has formed, the first time the two moving averages touched in roughly two years. I was looking for the 200dma to be reconfirmed as support and it did that in the past few days. Today's high volume spike will likely play out similarly to the last one with the open gap being filled in the coming week or so prior to resuming the new upward trend.

https://schrts.co/JASsGHgI

I took profits this AM on my trading position and will be looking to re-load on the expected consolidation. I have an eye on LEXX as a potential investment but the recent quarterly filing was unimpressive so I am content just trading it at this point. With it's small share structure and now exclusively trading on the Nasdaq there should be some excellent volatility for trading.

All the best,

Knife