LXP decline through 2018, last buyers at $7 - Auction Theory
Saw a seeking alpha article touting LXP and had a look because it's an attractive, covered dividend.
However, it has declining assets that it's taken some nasty write downs on in the past, so auction is reevaluating LXP lower.
But how low?
Last aggressive initiation large buyers stepped in near $7.
I wouldn't touch it until it's near the Pink buy levels near $7 on thinning volume profile.
If the buyer doesn't re-show up to the party, exit immediately.
If the buyer does show up and we get strong rejection V bottom, it's a hold to reevaluate at 9.20.
However, it has declining assets that it's taken some nasty write downs on in the past, so auction is reevaluating LXP lower.
But how low?
Last aggressive initiation large buyers stepped in near $7.
I wouldn't touch it until it's near the Pink buy levels near $7 on thinning volume profile.
If the buyer doesn't re-show up to the party, exit immediately.
If the buyer does show up and we get strong rejection V bottom, it's a hold to reevaluate at 9.20.