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SAVIENT PHARM INC Message Board

  • riordan_2_2000 riordan_2_2000 Mar 30, 2011 7:19 PM Flag

    resistance levels.

    im not a big chartist. but the resistance levels are pretty interesting. this is what i have

    +6.9% at 11.23 ± 0.27, type single, strength 2
    +12.8% at 11.86 ± 0.28, type double, strength 2
    +18.2% at 12.42 ± 0.3, type double, strength 10
    +41.4% at 14.86 ± 0.36, type single, strength 1
    +94.5% at 20.44 ± 0.49, type single, strength 5
    +106% at 21.68 ± 0.52, type single, strength 2
    +117% at 22.76 ± 0.55, type double, strength 2

    there are large gaps after 12.42. so i would look for EU filing and other news to bring it to that resistance level. then after 14.86 no resistance til 20+. which could in turn be the opening for sales figures.

    these technicsls, i think could be a window into the possibilites of what might happen in the near to intermediate term.

    any other insight would be appreciated, as long as its constructive and not ignorance

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    • Not here to argue with you, but I couldn't disagree more.
      So, I'll let the chart prove itself. In 3 days you will be writing how we broke out. Maybe sooner.
      Disclosure:This is my opinion and anything may happen. But, my money is where my mouth is. This is about as strong a buy as I have seen in a long time.

      • 2 Replies to cmegladon
      • <<Not here to argue with you, but I couldn't disagree more.
        So, I'll let the chart prove itself. In 3 days you will be writing how we broke out. Maybe sooner.
        Disclosure:This is my opinion and anything may happen. But, my money is where my mouth is. This is about as strong a buy as I have seen in a long time.>>

        I assume by "in 3 days" you weren't counting the weekend, so Monday is day 3.

        Not looking good on that breakout, so far.

        I still think we're trading in a channel from 9-11 until significant news (like earnings).

      • papa, i agree with your post, and we definitely trade in a sideways pattern. and svnt trades on tutes governing, but i believe the reason is because there is really nothing to trade for, except info that is mostly speculation.


        most companies trade off of earnings and positive outlook.
        well svnt has no real earnings and all of the analysts have a mixed, mostly low end outlook.

        once we have good earnings, i think inst. ownership will decrease significantly and we will trade as a "normal" type stock.

        these technical resistance levels i tried to show what we may rise to on such news, of filing and figures.

        i wanted to post something different rather than someone running their mouth about someone else and having a ridiculous arguement over someones net worth and how much money they think they have. this board has gone stupid.

    • Actually, see the attached chart.
      It's a simple chart but look at the Parabolic SAR setting up under the day's movement. Also look at what's about to confirm....I believe if/when we pass $10.86, we propel upwards.
      http://finance.yahoo.com/q/ta?s=SVNT&t=3m&l=on&z=l&q=l&p=m20%2Cm50%2Cm100%2Cp&a=&c=

      • 1 Reply to cmegladon
      • I get a different message from that chart.

        Almost every time the parabolic SAR generates a sell signal, the price goes up. Almost every time the parabolic SAR generates a buy signal, the price goes down. It's supposed to work the opposite.

        To me, this means that the stock is trading in a channel since January, rather than trading on momentum (i.e., technicals).

        I agree with the main point, though... If we break 11ish it probably signals a new higher channel.

    • This is just my opinion, so take it for what it's worth.

      I don't think this stock really trades much on technicals. This is because of the large institutional ownership as well as the large short interest. Instead, we get a lot of sideways movement over a fairly narrow range for extended periods until there is some news, either positive or negative. Then, the stock readjusts to a new channel over a period of days or weeks, and it's back to sideways again. The current channel is around 9-11 and was set back when the convertible notes were offered.

      It's possible that the VA news and subsequent notice are enough to kick ups into a higher channel, but I'm skeptical until we break north of 11ish. Instead, I notice that the number of short sales as a percentage of daily volume, as reported by FINRA under Reg. SHO, is higher than usual in spite of our recent run-up.

      Until we cross 11, I still think we're going to be waiting until news of significant product sales hit the quarterly earnings report. I'll be delighted if I'm wrong, but we'll see over the next week.

 
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