Friday, February 22, 2013 1:29:17 PM
Late last month Keryx Biopharmaceuticals went from under $4.00 to over $9.00 in two three days. Nothing in the charts would have predicted that. It was because of positive news on one of their drugs in development, Zerenex. Now, the stock did follow a normal momentum pattern of going over its final SP by about 30% before settling down into the $6.00 range. That a chart might have predicted. But that actual move, no chart is going to see that coming.
Likewise, no chart is going to predict the way the market will react to the conference call. That is based on the nature of the new released as well as the expectations of the shareholders.
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