Stock Chart LMNX

Posted by downtowntrader | 7/24/2008 09:14:00 PM | 2 comments »

Stock Chart Analysis LMNX

Luminex Corporation (Public, NASDAQ:LMNX)

As bad as the bottom line looked today for the major indixes, several stocks held up or actually moved higher. LMNX, while giving back some of it's gains, still formed a nice bullish engulfing candle on an uptick in volume. This shows that buyers overcame early weakness and overwhelmed sellers. Looking at the bigger picture, LMNX looks like it recently cleared a small wedge like consolidation pattern, which should yield at least a retest of the prior highs. There is a very good chance it will continue past that and make new highs. There are several different options for stop losses depending on the type of trader you are, but for my style, I wouldn't want LMNX falling back into the wedge.

Good Trading,


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  1. Anonymous // 6:58 PM  

    how come you don't leave dates on your post? If they are there, I'm not seeing them. All I see is the time

  2. downtowntrader // 8:50 PM  

    hmm... not sure anon. It looks like the date went away when I upgraded the site. It used to be on by default. I will look into the new template to see how to turn it back on.