LXK, Lexmark

lxk july 26 2011

July 5th this stock looked like a screaming buy. The only caveat was that it was still conceivable that the stock could drop to $25 ( it had already reached $26.63).This would be a likely event if there was a triangle in the a-b- correction down. With the benefit of hindsight it is clear that there was no triangle so the had already been reached. For those that bought rather than wait for an extra dollar or two things have worked out well. Today the stock is up 20.27% to $ 34.85. The stock should reach $40, and if the analysis was correct, a lot higher.