SmallCap Network posts new chart and bullish outlook on ALXA.
"Bingo! You can't quite tell it on the weekly chart of Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) below, but this small cap has reached new 52-week highs today thanks to a pretty impressive (and resilient) uptrend over the last few weeks. In fact, ALXA is actually gaining momentum.
The reason I opted for a weekly chart over a daily chart for ALXA is to show you the scope of (1) the long-term rebound effort, and (2) the move to new highs. Truthfully, I'd prefer it if Alexza Pharmaceuticals actually set up something of a base right below $3.53 - or even right above it - before making the next bullish leg, but the market didn't ask me my opinion. So....
....just bear in mind this chart comes with a more-than-ample likelihood of seeing a flat period, or even a bit of a dip, at some point in the near future. Don't sweat it. In the bigger picture, Alexza Pharmaceuticals, Inc. has been establishing a solid long-term recovery move; $3.53 is the Mason-Dixon Line."
I enjoy reading your posts. I have been frustrated that this stock has had such a long run the last couple months. I have been hoping for a dip. Finally bought on the market correction but did not fall much even then. I think we will get a good dip in the coming weeks because I gotta think this company needs to raise money. It just looks to tight for them in my opinion. This rise in price has to make it tempting to do an offering now. Just my opinion. Who knows really.