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Registered User
Joined: 12/2/2004
Posts: 1,775
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SOMX and ARQL are two drug stocks that made absolutely monster price and volume moves recently.
SOMX has had more time to calm down and consolidate and its price currently at a possible buy point for starter position near the 8 area, right at the 20 day, with a pretty tight stop at 7.70, which would undercut recent low and also take out the 20day. Note how the 20day seemed to act as strong support the two previous times it was tested. Current consolidation evolving nicely with greatly diminished volume past couple weeks. But note too that even though the daily ranges look tight on the chart (at zoom 3 or 4) relative to its monster breakout bar, those little bars are still subject to cover an intraday range of nearly a point or so in a heartbeat. So buy points need to be precise.
ARQL broke out more recently and may be setting up. Already a mini flag may be forming with diminishing volume.
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Registered User
Joined: 3/8/2010
Posts: 63
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I would add ABIO to this list also.
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Registered User
Joined: 3/8/2010
Posts: 63
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Finally hit its bottom today and wow did it take off. Jumped in at 4.30. Out at 5.80.
But it's still going! Holy taco.
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Registered User
Joined: 3/8/2010
Posts: 63
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Just bought a bunch of shares of AEN @ 1.78. Really like the pattern on this one. Pretty much looking the exact same as the day before its last breakout on the 14th. 7 days of a rounded top then pop.
Think we will see the carrythrough either later today or Monday.
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Registered User
Joined: 3/8/2010
Posts: 63
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Looking at AEN a little more closely, it has now been holding steadily above resistance levels over the past few weeks that have existed since its breakdown in January 2008.The next resistance levels for this stock really don't exist until just under the $5 range.Of course I am sure it could break down just as easily as it could break out but the fundamentals for this stock have been good lately so I don't think a breakdown is likely unless the market caves.The upcoming week will be very interesting to watch for sure.
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Registered User
Joined: 3/8/2010
Posts: 63
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I still think that AEN is going to have a huge breakout day but wow has volume been pathetic lately.
Exited my position earlier this week with the down market and have watched it just sit and do nothing since.
The first day that volume picks up for this stock once again I think it is gonna take a very nice ride up.
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