LPN : Our MT target is still 14.50 to 15.00
April 6, 2011 Leave a comment
LPN has an important support at 9.80 or so, and will be worth some attention here because a rebound is entirely possible. If it does rebound, the 10.30 will be the immediate short term target, but we suspect it will hit 12 again during the course of the next few weeks.
Our medium term target for LPN is 14.50 to 15.00, which we think has a 50-50 chance of being hit before the end of Q2.
If 9.80 fails to hold and it comes off to 9.5-9.6, a buy order will be very tempting unless there is something bring with the flows, and heavy selling pressure is apparent