Big Drug Stocks Making A Move!
- Thread starter jamis359
- Start date
Hmm, CELG has had a huge run up recently (I was in it early and got out at breakeven, which I guess is better than at a loss, haha), WY looks terrible, as does FRX (they've been a lot weaker than the others)
I'm going to start looking more into CELG and ABT, thanks for the post, I'll let you know what I dig up
I'm going to start looking more into CELG and ABT, thanks for the post, I'll let you know what I dig up
Quote from jamis359:
Looks bullish to me... I like how some of the bigger names are providing leadership. Will need to see follow-through but I think this move will have some legs.
ABBOTT LABS
WYETH
CELGENE
FOREST LABS
from some quick research i'd say ABT an Medtronic (MDT) are looking good
This is pure conjecture with no basis in fact, but perhaps following their recent news on the stent, they will get upgrades from analysts.
PERHAPS! ... lol, again, complete speculation with no basis on fact, but either way, I'm liking ABT and MDT for a quick trade and am currently looking into some possible short term catalysts (earnings season is also soon)
Regardless, thanks again for bringing this to everyone's attention!
This is pure conjecture with no basis in fact, but perhaps following their recent news on the stent, they will get upgrades from analysts.
PERHAPS! ... lol, again, complete speculation with no basis on fact, but either way, I'm liking ABT and MDT for a quick trade and am currently looking into some possible short term catalysts (earnings season is also soon)
Regardless, thanks again for bringing this to everyone's attention!
Funny how different people look at the same charts and reach different conclusions. I don't think you're wrong, I can easily see how these could all be bull traps. But with all the market negativity it's time for a rally and I'm seeing potential here for the bull case in this sector. I think WYE has broken out over medium-term congestion and looks like it will try, over the next several weeks or months, to challenge the May 2007 high of $57. Also bullish is that WYE is now clear over the 200 day MA. IMHO FRX looks to be coming off a bottom and rising on increasing but still lackluster volume. It could pull back to $34, which may form an inverted H&S, setting the stage for a rally. Still, I like the background story of a Stage III approval of a new antibiotic and a great pipeline in the future. Earnings coming up end of the month; positive surprise could launch FRX up to $45.
Confirmation in drug stocks. Many are moving up on good volume.
AMGEN. This is the right side of a cup formation, let's see if the handle forms at around $57.
CHARLES RIVER. That high base looks delicious and looks ready to launch a breakout.
There are more, too many examples to post. SQNM, DNA, JNJ, plus ABT. ENDP.
AMGEN. This is the right side of a cup formation, let's see if the handle forms at around $57.
CHARLES RIVER. That high base looks delicious and looks ready to launch a breakout.
There are more, too many examples to post. SQNM, DNA, JNJ, plus ABT. ENDP.