LNTH Retakes Its' 50-Day Moving Average
Lantheus Holdings, LNTH, demonstrated impressive action today as it retook its' 50-day moving average today with strong volume coming in. I traded this stock earlier this year, but was stopped out as it lost key support levels. I've been watching LNTH closely over the last few weeks for a variety of reasons. First, Lantheus has delivered some incredible numbers over the last year. Not only are its' earnings and sales accelerating, LNTH also delivered triple digit earnings and sales in its' most recent quarter. Moreover, Lantheus is also estimated to have strong annual earnings in 2022, which is something I always like to see.
I've also been quite impressed with LNTH's superb relative strength. While the Nasdaq and S&P 500 have been in a prolonged bear market, LNTH has continued to hold above its' 100-day ema. This is just incredible considering that the majority of stocks are below both their 200-day and 50-day moving averages.
I bought LNTH today as it retook its' 50-day with heavy volume coming in. I have a stop loss in place to limit my risk should the trade turn against me.
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Full Disclosure: I currently own LNTH.
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