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Thursday, October 08, 2009 

Stock Picks for Friday - Curis and Trinity Industries Inc.

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CRIS is cheap. It's a bargain stock in the oncology space according to Brean analyst. Today, he initiates coverage on Curis with Buy rating. Target price $4. Brean analyst says, "We are initiating coverage of CRIS with a Buy rating based on our sum-of-the-parts analysis. Despite significant stock appreciation since late last year, we believe Curis remains an undervalued player in the oncology space, well poised for significant upside primarily driven by potential positive data from a pivotal Phase 2 trial of GDC-0449, a first-in-class hedgehog inhibitor in collaboration with Genentech, in basal cell carcinoma (BCC) in 2H10, proof-of-concept data from 2 Phase 2 trials in colorectal cancer and ovarian cancer in 2H10, and Phase 1 data of CUDC-101, a promising next-generation multi-target inhibitor, in advanced solid tumors, which would also serve as a validation of the company’s platform technology." CRIS experienced a huge increase in volatility after the latest speculation surrounding a possible takeover, a scenario which seems very realistic. Here is a technicasl daily chart showing the breakout area and the subsequent consolidation pattern. CRIS is pulling back in a pennant type pattern into a rising 50-day moving average. I also believe the stock is cheap and is poised for an explosive move upward.

( click to enlarge )

TRN has been in an correction the past two weeks. The move prior to the pullback was very strong. If the correction is complete, then it's possible that TRN will make a new leg up. Examining the past few candles reveals that bounced off the lower band and has now retaken the 13-day moving average. The technical daily chart shows positive sign as the stock has been above 50 day moving average since August. In addition, stochastics shows fresh buy signal as K line is now on top over D line.

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 tomorrow !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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