Biotech Values

[Dimension]

some tecnical observations/thoughts on CRME:

first, i am bullish on this stock. While i like this for an IT to LT play, some interesting observations for traders...

On the 60 minute, this stock is undering going a Bollinger squeeze, implying a significant move ahead. the direction is ambiguous, but given that the stock appeared to have based on that time frame without making a new low, it looks bullish. Also OBV rising and about to croos it's 20MA, indicating money volume/money flowing back into the stock.
It is getting overbought again in this time frame, so any move here may be short lived. I'd expect a strong move out of the BB squeeze, follow by another period of consolidation to relieve indicator conditions...

http://stockcharts.com/def/servlet/SC.web?c=CRME,uu[w,a]eaclyyay[pc20!c50!c200!d20,2!f][vc60][iUd20!...

for the longer term play...
On the daily however, the stock is still rather overbought and i would have preferred more of a retrace to allow nibbling at a lower price...that said, it should be noted that this stock can trade for weeks in such conditions, as can be seen in the last couple of months on the daily. while overbought is often a warning, when a stock continues to plow a head in overbought, it is evidence of the underlying strenght of the recent move, and hence, with a retrace, you can expect new highs.

There are no options on this...i am not sure if that is because it may be a canadian company...so no help there in guaging what is likely to happen by 3rd week in january.