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Seattle Genetics Inc. Message Board

  • thetechtraderca thetechtraderca Apr 23, 2013 7:54 AM Flag

    Harry Boxer's Charts of the Day

    Harry has posted a Charts of the Day video on SGEN at TheTechTrader site noting: Seattle Genetics Inc. (SGEN) is looking very strong, and after the long, 2-year channel, a new, accelerated channel has formed. The recent pullback consolidation, it popped on Friday and then popped again on Monday, up 1.34 to 38.30, or 3.63%, on 928,000 shares. That was an increase in volume over the last couple sessions, but we want to see more upside. We want to see what it does when it reaches the 40 range. If it pops through there, we could see the 43-45 zone.

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    • When are the shorts going to cover? Short interest went from 22 mil to 20 mil as of 4-15 per yahoo. If I recall high was 26-28mil. Still a considerable short position out there. I cannot see the logic of holding this position - I imagine they must operate under the FIRM assumption they are going to fail. Or, maybe part of a larger trading strategy...

      Sentiment: Buy

 
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