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Wednesday, June 24, 2009 

Healthcare stocks to watch on Thursday - Spectrum Pharmaceuticals and SciClone Pharmaceuticals

Chart courtesy of www.stockcharts.com ( click to enlarge )

SCLN was correcting in a downward channel after having doubled in value. Today, the stock finally broke out of a downward trending channel on strong volume and looked poised to move higher to test the May highs. A move to the 2.42-2.50 range appears likely. The technical chart shows positive sign as the stock has just rose above the 13 day moving average again and RSI moves up. Shareholders may remain invested with a stop-loss at 2.15.

Chart courtesy of www.stockcharts.com ( click to enlarge )

SPPI - The stock is trading near its all time high. Buy only when the stock breaches $6.35. Once the stock breaks this level we should see a strong upside move. SPPI will move very quickly, so keep the stock on your screen throughout the day on Thursday.

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 Folks. See you on Thursday !!!

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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