Lexaria Bioscience Corp (OTC:LXRP)
I got my friend Dwight who runs www.setyourstop.ca and is a great chartist to send us a chart of LXRP. On top of having a very pretty chart, Dwight is making the case that LXRP should be on our technical watch-list as it has broken out of a continuation wedge and is now flagging above the 200 day moving average. Personally, I love when a stock is in a situation like this because in my mind it represents a good risk: reward entry whereby you could place a stop below the wedge/200dma. By placing the stop, you know how much money you are risking, while keeping in mind that the upside is far greater than the downside. Entering a stock here and not having a stop out level is like going to the restaurant and not knowing how much the steak is. A rational person would not do that and in my opinion, either should you.
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