Replies to post #24465 on Lexaria Bioscience Corp (LEXX)

[Fallingknife75]

Gaps are commonly misunderstood and old sayings like "gaps always fill" just add to the confusion. There are four types of gaps, two which fill (common and exhaustion) and two that don't (breakaway and runaway). It can be difficult to identify the type of gap at the time it occurs and some gaps may fill that one would not expect to; it's the market after all and is not always as predictable as we would like it to be. Linked below is an article on Gap Analysis.

https://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:gaps_and_gap_analysis

LXRP's chart is acting as expected after running into the resistance zone I previously mentioned. It is consolidating on lower volume to validate a new support level. I believe it will be in the $1.20 - $1.30 range keeping it above the 50dma which is currently at $1.16.

http://schrts.co/zSMFYqCq

We have a pending 20/50dma Golden Cross, after which the 20dma will be a supplemental support level worth watching as well.

http://schrts.co/uYXsIJuE

The company is making solid moves for the future and the chart is beginning it's recovery. There is still a way's to go but we are starting to move in the right direction. With any luck we will have a full reversal in play soon and will be re-testing previous highs this spring.

All the best,

Knife