After making a strong move the past few days, Somaxon Pharmaceuticals, Inc. (NASDAQ:SOMX) are now consolidating. The stock wants to move higher and this could happen soon. I’m buyer of SOMX once it breaks $4.80. There is a chance SOMX will consolidate for another day or so, but watch it closely on Monday in case it breaks early.
After touching a high of $1.48 a few weeks ago, shares of OceanFreight Inc. ( NASDAQ:OCNF) have been in a corrective phase. The technical daily chart above shows the rally is back again as %K line has just crossed on top over %D line and stock is back above the 5 day moving average, a positive signal. The outlook is positive now and a move to $1-$1.01 appears likely.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
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Stochastic made a bullish crossover on Wednesday and ADX is increasing. This shows that investors are bullish on Motorola. The stock is still facing resistance around $7.58. Fresh long should be made only when the stock moves above this resistance level. Support level is at $7.38 and $7.29 respectively. Overall, the technical daily chart shows the stock is on a bull market as the stock is trading above both the 50-day and 200-day moving average.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
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Somaxon Pharmaceuticals Inc. (NASDAQ:SOMX) shares rose 28.78 percent to $4.34 with 31 Million of shares traded after the company announced an agreement to co-promote its Silenor sleeping pill with healthcare and consumer products giant Procter & Gamble (NYSE: PG - News). Under the terms of the deal P&G will market the drug to physicians and pharmacies, and Somaxon CEO Richard Pascoe added, “we are excited about the potential to partner with Procter and Gamble for the OTC rights to Silenor as a future life cycle management opportunity.” SOMX broke out on Wednesday and I am looking for a continuation move on Thursday. SOMX broke the descending traingle and has moved decisively to the upside. That’s a powerful sign that high prices are likely to persist. Long positions may be considered on price weakness, with a stop-loss at $3.77.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
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