LNTH Emerges From A High Tight Flag Pattern
Lantheus Holdings, LNTH, emerged today from a high tight flag pattern with volume coming in. There are a few reasons why I decided to purchase this stock. First, LNTH has shown incredible power. The massive volume gap up in February that occurred while the market was bottoming is a sign of noticeable relative strength. In addition, the fact that Lantheus has held above its' 23-day ema despite already doubling in less than two months indicates something is clearly going on with this stock. Moreover, LNTH has produced four quarters of accelerating earnings, which is something William O'Neil always liked to see. I will be using a stop loss to limit my risk should the trade turn against me. At the end of the day, it is risk management that allows you to live to trade another day.
Risk right. Sit tight.
Full Disclosure: I currently own LNTH.
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