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Dendreon Anonim Ortaklik Message Board

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  • nvest80 nvest80 May 21, 2009 10:37 AM Flag

    VERY STRONG RESISTANCE AT 21

    with stocks like DNDN you cannot apply technicals the same way you could otherwise. And the only reason it won't work is volume. Look at volume over the past 3 months on a daily basis, yahoo let's you export the data very easily. Volume is drying up right now and with fewer bids this can easily fall through 20 and all the way back to 12. If you are long, I'd take profits with at least half the position and/or get some Puts to protect you a bit.

    Not here to argue DNDN's fundamentals as I also believe they will get FDA approval. But I see an apportunity for longs to sell 50-75% of their position and buy back at 40-50% discount within the next 20 days.

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