Lehman's securities - yes, that former banking giant - are still trading, and they recently hit some post bankruptcy highs. I don't have time for a full analysis here, but I will provide you with some quick insights based on the chart of one security - LEHPQ.
It hit a post bankruptcy high of $11.40 a couple of weeks ago, and has been consolidating over the past couple of weeks, but the chart looks like it might be breaking a bit. What does this mean? It could test recent support levels in the sub $5 range. But you can see that it has gone thru all of the EMA levels here, and the bollinger band is starting to head south a tad. There is a cup-and-handle formation in there, with the handle being formed, and although many indicators are way oversold, this could still see some more selling before it heads north again.
LEHPQ is a spec chapter 11 play and is not recommended for your average investor. Any investor must do his or her own due diligence before deciding on entering this game.
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