Memory Pharmaceuticals Corp (MEMY)

[dalcindo]

Re: MEMY - TA and Chart

(A re-post from another board)

RTN,

You are very likely right about any further significant potential for move - That is, the price is not likely to surge as it did on prior week.

In addition, the RSI failed to go any higher. In fact, this week's move has been a screeching contrast to prior week momentum.

From a fundamental perspective, this may indicate that the train has arrived at its fundamental location and likely to resume a direction fueled by its coal-powered underlying fundamental data

From a technical perspective, I see that the price has rallied precisely up to a the downtrend channel's midline - This is one of many attempts (See chart's highlights validating the midline channel).

On a more technical speak, the RSI reached a significant inflection point (See: * in chart) corresponding to a price (See: * * in chart) that week that ranged from $0.48 to $0.60 (first week of DEC 2007), the high of which corresponds to this week's resistance and the low of which corresponds to this week's 45-EMA line (See: * * * in chart).

Although these observations may be taken as coincidence by the fundamentalist, all secondary indicators on that first week of DEC 2007 do point to a bullish reversal trend.

For instance, the 9,14-CCI as well as 9,14W% each turn into a bullish spread on that week and remains in an uptrend; CMF makes a sharp kink and remains up; PPO/ADX completes its pincher, and a shart reaction high is recorded on the A/D line.

At this point, again, I agree with you that the price is not likely to go any further for the moment, but it does look as if the trading zone provided by the corresponding RSI's inflection may keep PPS within the $0.48 to $0.60 range.

TA is just probability speak and speculative deeds; time is always judge.



(I appreciate your feedback, comment - Please, vote at bottom of this link: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2140281 )

D.


Message In Reply To:
Memy wont move further

Memory selling to partner Roche for $50 million
Tuesday November 25, 6:49 am ET
Memory Pharmaceuticals selling to development partner Roche for $50 million in tender offer


MONTVALE, N.J. (AP) -- Memory Pharmaceuticals Corp. said Tuesday Swiss drug developer Roche will buy the biotech company for about $50 million, in a move to bulk up its development of potential Alzheimer's disease and schizophrenia treatments.