Life Partners Holdings (LPHI), the company that matches life policy sellers with senior life policy purchasers is down over 10% today after receiving a notice from the SEC. This news brings uncertainty to company and you can see it in the heavy volume selling done today. I believe you can’t fight the trend here, at least technically and here are the reasons below.
1) Selling is continuous throughout the day with heavy volume. LPHI has already done over 2x it’s five day average volume and it’s only three o’clock on a very slow Friday.
2) LPHI is breaking down to new 52 week lows and as Larry Hite says “when a stock is making a new 52wk high or low, it’s telling you something.
CLICK HERE for full article.
Business Insider Emails & Alerts
Site highlights each day to your inbox.