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Monday, May 14, 2007 

Hot stock of today session - CRTX

Chart courtesy of stockcharts

Critical Therapeutics shares were up 61% or 1.01$ today closing at 2.66$ after the small drug developer received Food and Drug Administration approval for a respiratory treatment it will market with Dey LP, an affiliate of German drug maker Merck KGaA. Shares have traded between $1.44 and $4.79 over the past 52 weeks. Looking at the chart above stock broke out trough the resistance at 2.36$ with a phenomenal volume, a fast short covering. The stock may be reaching into overbought territory and ready to pullback some of the gains, but first we need to see when stock will stop ( see the resistances above mentioned in the chart ) to take some profits. MACD and RSI shows a strong buying pressure and a quiclky increase in the investor confidence. Stock came back again to Bull Market, with shares trading above 20,50,200 daily moving average.

Chart courtesy of stockcharts

Keep an eye on SVN for a possible breakout over 6,30$.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC


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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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