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Friday, January 21, 2011 5:09:42 PM
ProActive Newswire 3.0 - Transformational Companies & Content
It has become well known throughout the biotechnology and investment community that Advanced Cell Technology is a forerunner in regenerative medicines as the Company controls two of the first three FDA approvals for human stem cell research ever granted. Fundamental traders love the prospects of this company; and with good reasons. While all the ruckus has somewhat calmed down during the price per share run which produced whopping gains, technical traders are also keeping a close eye on the stock chart for ACTC at may be "honing in" again as the consolidation in price continues.
ACTC certainly has seen quite a run over the last two months and the chart is still holding the vast majority of the gains while working itself into a flag pattern. There is a bottom support at $0.135, but we are looking for a higher level of support at $0.16 to hold and for the price per share to push towards the top of the trendline and then resistance at $0.21. Indicators have retraced far enough while volume is declining which could be a foreshadowing for another move, so the chart is on close watch now for a push back upward from this point forward.
http://www.proactivenewsroom.com/Blog/bid/58424/Advanced-Cell-Technology-ACTC-A-Fundamental-and-Technical-Play
It has become well known throughout the biotechnology and investment community that Advanced Cell Technology is a forerunner in regenerative medicines as the Company controls two of the first three FDA approvals for human stem cell research ever granted. Fundamental traders love the prospects of this company; and with good reasons. While all the ruckus has somewhat calmed down during the price per share run which produced whopping gains, technical traders are also keeping a close eye on the stock chart for ACTC at may be "honing in" again as the consolidation in price continues.
ACTC certainly has seen quite a run over the last two months and the chart is still holding the vast majority of the gains while working itself into a flag pattern. There is a bottom support at $0.135, but we are looking for a higher level of support at $0.16 to hold and for the price per share to push towards the top of the trendline and then resistance at $0.21. Indicators have retraced far enough while volume is declining which could be a foreshadowing for another move, so the chart is on close watch now for a push back upward from this point forward.
http://www.proactivenewsroom.com/Blog/bid/58424/Advanced-Cell-Technology-ACTC-A-Fundamental-and-Technical-Play
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