Monday, October 17, 2011

$YMI Trading in a falling wedge

$YMI trading in a falling wedge, we can see the volatility squeeze and consolidation through the Bollinger bands that get horizontal and very close to each other, the breakout of the upper band and the downtrend line (cyan) will lead for a wild breakout and uptrend toward the weekly resistance point @ $2.55 & the 200MA.
Meanwhile the price trading side-way and have to deal with the 50MA too, we might see recheck of the lower band before the breakout as the Stochastic start turning down from the overbought zone and should clear out, in the other side we can see a positive divergence in the RSI & MACD.

For the guys that already holding, keep holding as the price will start moving as we get close to Dec 2011 where the company expects to report final efficacy data from P3 adult brain cancer (glioma) trial till year end, and is enrolling patients in ongoing P2B/3 trial for pancreatic cancer

The second catalyst is CYT387 (a JAK1 / JAK2 Kinase Inhibitor) YMI Expects to report data from expanded group of patients (166 enrolled) in ongoing P1/2 trial for patients w/ myelofibrosis in DEC 2011 (expected at ASH mtg Dec 10-13), on 9/28/11 enrolled first patients in P2 trial to evaluate twice-daily (BID) dosing, results expected 4Q12

For the guys that it's only in the watching list, Breaking out the upper falling wedge line with a large volume and closing above will be a buying point.

Disclosure: no position yet.

Thursday, October 13, 2011

$AVNR Breaking out ascending triangle

$AVNR Breaking out ascending triangle 3 days ago with large volume, it just started day earlier by breaking out the 50MA too...after the breaking out, the price usually testing back the line that used as a resistance line and supposed to use as a support this time around $3.09
This retrace created a "Bull Flag" , breaking out this flag will gave us a long run up, as long as the flag pole, but braking down the $3.09 point might start a technical correction for the last uptrend between $3.00 to $2.80 as Fibonacci levels.

Daily Chart

Looking at the intraday chart 15min we can see the creation of the bull flag...and the volume contraction with a positive momentum

Start a position @ $3.10 with a close stop lose

Thursday, October 6, 2011

$PLX : Volatility Squeeze, looking for the break out

$PLX Technically looks very interesting, the Bollinger bands became horizental and very close to each one, (Volatility Squeeze) and we can see a very clear positive divergence in both the MACD and the RSI, beside the expansion of the volume during the up days and contraction in the down days, give us the clue of accumulation.

Protalix have a several catalyst, First, the PDUFA date on 02/01/2012, but have major catalyst during this period, as the company have to reply to the EMA (Europe) 120 day question and will be submitted during October as the IR told me last week, the management took a long time to reply to EMA 120 day question from April, I think it was smart and safer move to synchronize EMA data with FDA data.

After PLX submits the 120 day questions – EMA has 2 months to review and then comes back to PLX with a second set of questions (called 180 day questions as it's 180 days from filling).  Protalix then responds and should hear shortly after that on a recommendation by CHMP.  
The Committee for Medicinal Products for Human Use (CHMP) is responsible for preparing the Agency's opinions on all questions concerning medicines for human use.
Notice of formal approval would then follow the CHMP recommendation (assuming positive). and can be done during Dec 2011 or early Jan 2012.

Third catalyst is the Brazilian approval that could happened at any time (very close).

Fourth Catalyst is the Investigational New Drug (IND) Application for phase I/II clinical trial in Fabry disease will be submitted before the end of the year as noted by the CFO Mr. Yossi Maimon at Jefferies & Co. Global Healthcare Conference-UK, held on September 27, 2011, he mentioned that the FDA encourage PLX to submit an IND for phase I/II directly in's bio better product.

For the safest trade, start position after breaking out the upper Bollinger band.

Disclosure: Long $PLX

Daily Chart

Monday, October 3, 2011

$TZA & $TNA holders are fighting for Direction..$IMW is the leader

$IWM have a "Descending Triangle", Lower highs and lower lows...
Breaking down the support line will be a huge short for the Russel 2000 Index...TZA & TNA holders watch it

In the other side, the RSI & MACD with a positive divergence!!!
Who is gonna win the battle