The one dollar mark is a physcological resistance point and buyers may have a strong battle on their hands to force the issue above the one dollar area. However, if buyers are successful in overcoming this area of resistance and maintain it for a day or so, new support will be established and higher highs are possible. The savvy penny stocks trader will be watching for a favorable outcome for buyers and may consider taking a position once new support above $1 has been established.
Lifevantage Corp announced third quarter 2011 preliminary revenues on April 14 of $10 million, a 35% increase over the 4th quarter of 2010 which were 7.4 million. LFVN is a wellness and health based science and neutraceutical company in San Diego, Ca.