DMND has been trading in a tight range of lower highers and higher lows for the better part of the last two months. Yesterday it confirmed a solid breakout from the triangle and today added some follow through. Not to mention that it finally crossed and closed above the ever important 50 day moving average. The above average volume (would love to see it in millions though) made the breakout slightly more convincing as well. 13.50 was an outstanding floor for the quite a while. 15.50 will be the next test as it had failed to breach that area during this two month consolidation. I have no doubt a squeeze back to 18-18.50 to fill the gap down in november would follow after a successful test of 15.50 level.
GMCR, DNDN, FSLR, NFLX, MCP, RIMM, SODA, DECK. All had extremely high short interest. All had some form of accounting/earnings/outlook issues. All formed a nice bottom base and subsequently risen higher (some dramatically higher in excess of 100% in a short time frame). It is only a matter of time that traders get back into DMND for the next "play".
Gluck all, it seems that DMND could turn (finally)?
Do you really think a tight trading range matters with DMND? If we toss out the last few years for accounting fraud how can we use charts now.??
IMHO DMND needs a few solid quarters and reports before you can use any charts. I am just buying on dips here. I don't have the guts to short this stock. I believe it could take off anytime. I just feel better taking small bits of profit here and there.
Cut your loss and get back to even with NAVB. Dianostic imaging agent company with market cap of only $300M. JP Morgan and another insitutional investor just started position at $3.10 market price. FDA approval coming soon. Could be any day now before april 30. Share price right now of about $3, lots of analysts predict 5,6 even $9. Could be a short squeeeze coming soon, last month was 17 million now 16 million. Make sure to do your own research. Long time investor and strong buy on NAVB.