Zalicus Incorporated : ZLCS

http://www.benzinga.com/analyst-rat...haw-initiates-zalicus-coverage-market-outperf

Rodman & Renshaw initiated Zalicus (NASDAQ: ZLCS) coverage with a Market Outperform rating and $5 price target in a research report published today.

In the report, Rodman & Renshaw states, "We believe that the company's drug combination approach and its innovative ion channel modulator discovery platform provide a renewable source of drug candidates throughout the development spectrum."

Shares of Zalicus closed today at $2.60, down 1.14% from Tuesday's market close.
 
I mentioned Zalicus, Inc. (NASDAQ:ZLCS) before as a stock I was watching for an entry on. Stock has been in a very clear downtrend until some recent consolidation in the $1.05 area. There has been a decent increase in volume signaling of accumulation.

A quick look at the technical chart :

1) ZLCS is currently moving up with heavy volume
2) 20 day moving average crossed the 50 day moving average to the upside.
3) MACD lines are going up
4) RSI still above the neutral 50 level at 57, buyers strength still persists.
5) Money Flow-Index still climbing.
6) The +DI crossed up through the -DI this month - Bullish.
7) %K line has crossed on top over %D line
8) OBV still climbing.

The strong accumulation over the past weeks has shown funds moving into the company and moved share prices upward. Keep watching ZLCS this week since anticipated increased volume tomorrow that could push shares higher. Given how high ZLCS has gone in the past, this could be a great buying opportunity if it sees a strong rally ! Don't miss this opportunity research the stock now !
 

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Beware the OP is one of the worst if not worst stock pickers around who bases his selections on news and a distorted view of the technicals. Most of his selections are in entrenched downtrends and penny stocks. He was all over ZLCS in July and it has lost about half its value since.
 
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