On 2/24/2016 LCI reported and nosedived to support at $17.00. For five days now it has been trading sideways after hitting a low of $16.91. Both the sideways trading and the broken support at $16.91 indicate that LCI could go low although the forward P/E is only 5.3. Next support is down in the 12/13 dollar area and I have no intention of holding a large position into that kind of loss.
In one account I am in at an average price of $18.60 and in two accounts I am in at $17.10/.11. In all accounts I have a stop price of $16.88.
This A.M. I sold half my position in the $18.60 account to reduce my risk. The reason for this is if LCI comes out with any more bad news overnight it could open in the $13/15 area and I am not here to take big losses.
The stop at $16.88 I can live with even from the $18.60 level. At $17.11 a loss taken at $16.88 is meaningless and affords me the opportunity to reenter cleanly at the $12/13 area.
LCI broke through $18.69 resistance this morning with a high of $18.78. If it goes higher the first target is $21.25 and then $26.50.