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SmarTrend Watching for Potential Pullback in Shares of Lannett Co Inc After 4.64% Gain

By Amy Schwartz

Lannett Co Inc (NYSE:LCI) traded in a range yesterday that spanned from a low of $8.37 to a high of $8.81. Yesterday, the shares gained 4.6%, which took the trading range above the 3-day high of $8.50 on volume of 282,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Lannett Co Inc share prices have been bracketed by a low of $5.16 and a high of $15.52 and are now at $8.80, 71% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 2.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Lannett Co Inc on October 14th, 2019 by issuing a Downtrend alert when the shares were trading at $10.80. Since that call, shares of Lannett Co Inc have fallen 22.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders lannett co inc

Ticker(s): LCI