Here’s a chart of AGIX for Tony sent the following about the stock:
Michael, here’s an interesting chart to take a look at – AGIX. They took a dive after some controversy surfaced around the test results from a drug they are testing. This led to lawsuits which led to a further depressed stock price. Then, after a lot of insider buys over the last couple of months, volume and price have risen dramatically over the last week.
It certainly came off the May lows with a vengeance and is in an intermediate term uptrend. Wednesday would have been great day to jump in. But now the trick is to find a low risk spot to enter. Near a trendline, moving average or support would be good.
I spoke with a women from Atherogenics’ (AGIX) shareholder relations a month ago to inquire about the recent strength in AGIX stock. She told me that they’re on the verge of getting the go-ahead to begin a 6,000 patient trial on their lead drug.