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After Yesterday's Rally of 9.58% Shares Could Potentially Pullback

By David Diaz

Lannett Co Inc (NYSE:LCI) traded in a range yesterday that spanned from a low of $14.51 to a high of $15.22. Yesterday, the shares gained 9.6%, which took the trading range above the 3-day high of $14.56 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Lannett Co Inc share prices have moved between a 52-week high of $15.22 and a 52-week low of $3.33 and are now trading 353% above that low price at $15.07 per share. Over the past week, the 200-day moving average (MA) has gone up 1.7% while the 50-day MA has advanced 6.9%.

SmarTrend recommended that subscribers consider buying shares of Lannett Co Inc on July 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.42. Since that recommendation, shares of Lannett Co Inc have risen 87.2%. We continue to monitor LCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders lannett co inc

Ticker(s): LCI