Celsion's Phase III HEAT Study, a multinational, double-blind, placebo-controlled, pivotal study of ThermoDox® in combination with radio frequency ablation (RFA) for hepatocellular carcinoma (HCC) or primary liver cancer, has completed a planned interim analysis for safety, efficacy and futility and unanimously recommended that the study continue to its final analysis as planned. The DMC evaluated data from 613 patients in its review, which was conducted following the realization of 219 progression-free survival (PFS) events within the study population. A total of 380 events of progression are required to reach the planned final analysis of the study.
CLSN dropped from the high $3.84 on Nov 7, 2011 all the way down to find a new support area around the $1.65 point, just above a long term horizontal support line @ $1.60
Start looking interesting at those levels, and I start tweeting about the support, and finished the 2011 year by starting first position @ $1.68, in few days we saw a nice uptrend till the first resistance point @ $1.98 (as I posted took profit @ $1.93).
The price reach the support zone again to create a double bottom, and we can see in the chart the consolidation and the Volatility Squeeze in this area with lots of a positive signs just to load the boat again @ $1.66
First look at the MACD & the RSI both are in a positive divergence, the Stochastics start turning around to cross above the 20 level, and the most powerful sign is the Volatility squeeze and the Bollinger bands get vertical and very close to each other, that give the sign of a close powerful move, and the positive divergence give me the feeling that the move is upward.
It's looking as a good time to start the position here around $1.70, as the chances are much bigger than the risk, the stop loss can be few points under the support line $1.60, while the uptrend is huge, as the first resistance will be around $1.98 again, then will visit $2.31
Keep watching this trade, and use a stop loss in case and the trade went in the wrong direction...
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Disclosure : Long $CLSN