Here are a couple of charts of DNDN for Taff…
What do you think of DNDN? I know that there is news expected which will probably push it violently in one direction, but nevertheless, I wonder what your technical analysis says.
News definitely has a big effect on this stock and I agree that the next big announcement could totally invalidate the current chart. But that’s par for the course with these bio-wrecks biotechs. The stock doesn’t look too bad in the short term. It’s basically just going sideways, pretty much like the whole market.
The longer term picture would concern me if I were thinking of going long. There’s a good amount of overhead resistance with which to contend. The stock certainly has room to run to get to the higher resistance levels but man, if that news hits and it’s bad… I guess this is why people hedge…
Mike
Many thanks for the chart, excellent as usual.
Let’s see what the news will be, expectedly to be released during this summer.
T.