LFVN - Lifevantage Corp

LFVN - Lifevantage Corp started a strong upward trend early last week and is moving toward a possible breech of the one dollar mark. Entering into the afternoon session, LFVN has met with some selling pressure evident by by the presence of the long downside shadow on today's candlestick. Stingy buyers have steadily fought off the sellers holding ground at the .97-.98 area.

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.