• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of Lexicon Pharmace After 1.50% Loss

By James Quinn

Lexicon Pharmace (NASDAQ:LXRX) traded in a range yesterday that spanned from a low of $7.23 to a high of $7.44. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $7.32 on volume of 126,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Lexicon Pharmace on October 3rd, 2018 by issuing a Downtrend alert when the shares were trading at $9.95. Since that call, shares of Lexicon Pharmace have fallen 26.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Lexicon Pharmace share prices have been bracketed by a low of $7.04 and a high of $13.97 and are now at $7.24, 3% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.3%.

Keywords: rebounders lexicon pharmace

Ticker(s): LXRX