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YM BioSciences, Inc. Ordinary S Message Board

  • ml1colgate ml1colgate Apr 7, 2010 11:16 AM Flag

    Price Targets

    Google Finance has a new posting by SmallCaps networks showing technical analysis on YMI.

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    • I just added another 10000 shares at 12:42....

    • Is this the article?

      Up, Up & Away... mostly. Looks at CNLG, YMI, and SSHS

      By James E. Brumley
      Published: Wednesday, April 7, 2010 @ 7:53 AM PDT

      If the name YM BioSciences Inc. (AMEX:YMI) rings a bell, it's probably because I've mentioned it a couple of times recently, with the last time being the 'breakout' comments from March 29th. Since then, YMI has delivered on all fronts, gaining 7%, but more importantly, cementing the breakout move in place. Soooo....

      It's time to start talking about targets. Right off the bat I see two - and only two - for YMI. The first one is currently at $1.64, but falling a little every day. It's based on the falling resistance line that extends back to the highs from August and September. The second target level for YM BioSciences is the horizontal ceiling around $1.82, which was a big problem for this small cap back in January.

      Either way, it's a decent gain and a high-odds trade. Take a look at the volume bars and you'll see why. YM BioSciences Inc. has drawn out more buyers in the last week and a half than it has in months, and the rebound happened at a known support level. the market's not going to blow that off.