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Monday, March 05, 2012 8:02:07 AM
ZGNX charts - The recent low volume drop in the stock price to the 2.30 range (from $3.00) provides a compelling buying opportunity before ZGNX's financial results are announced after hours on Thursday, March 8. I believe this post earnings, new wave of buying interest could in short order easily take the stock up 25-30% from its current levels. But, this would only be the start of a rise back toward the 52-week high of $6.61.
Important to note is the 52-week high of $6.61 on March 10,2011, resulted from a 59%, five day gain in share price from the $4.16 price on the day that ZGNX released its annual results on March 3, 2011. This stock can jump very fast on good news because of its tiny float.
If history is a guide, when Zogenix reports this week-- with much greater results than March 2011 attracting even greater investor demand-- ZGNX will be well on its way back to that $6.61 high
ZGNX Charts Current Share Price: $2.31 (Mar 3)
Important to note is the 52-week high of $6.61 on March 10,2011, resulted from a 59%, five day gain in share price from the $4.16 price on the day that ZGNX released its annual results on March 3, 2011. This stock can jump very fast on good news because of its tiny float.
If history is a guide, when Zogenix reports this week-- with much greater results than March 2011 attracting even greater investor demand-- ZGNX will be well on its way back to that $6.61 high
ZGNX Charts Current Share Price: $2.31 (Mar 3)
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