Entremed (ENMD)

[SyndicateMM]

TA update:

Today generated a type of a very short-term buy signal on an STO divergence. It can be seen clearly on the chart(above the price chart) in the header as the late March price low and STO reading was surpassed by a new price low (yesterday) and STO reading was at a higher level. This is 'confirmed' by a higher close today. These divergence type buy signals can be tricky, in and of themselves and can experience multiple fits and starts before trending. Continued rising prices from here with some higher volume, such as today, would further confirm the short-term. Today's candle pattern is also indicative of a change in direction. Right now, I would view this only as a 'bounce' from the mission critical level of $2.70 (anyone scalp a trade in here besides me??). For now, it held, thank goodness. I would hate for a fresh new board to be mucked up with full bearish readings! It's still very early and things are still a bit painful, but recovery here could help the weekly situation quite a bit - a weekly positive close (above $3) would be huge, given the circumstances.

JMVHO...usual disclaimers...

Best Regards-
Syndi