Replies to post #84 on FDA Charts

[TheBioTrader]

ANX - Hope you might have seen the chart below on post 28 which shows the descending triangle. There are some patterns which will bring the price down. I see one of them on the ANX and it projects the target price around $2.40 in the near term. Currently I see too much of selling pressure and it would bring the price down to the projected target. The catalyst date is 9/1/2011 and I would get in if the price hits 3.25 again.

[PlanTrader]

rick, just in case icuc is busy tonight, I was online doing a chart for something else so I thought I'd reply. icuc may want to answer himself, so if he does please follow his advice instead of mine since this is his board.

Note, the shooting star candle formation isn't required, but it was an extra hint in this case. Shooting star: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:candlestick_pattern_

None of this stuff means a retrace WILL happen, but it's our job to always try to play the "odds" the best we can.