Replies to post #16992 on BioSante Pharmaceuticals, Inc. (BPAX)

[dmlabuda]

Hourly Chart Analysis - We have a quadruple bearish divergence on the hourly chart now between the PRICE and the RSI, ULT, Stochastics and %R indicating that lower prices are now eminent. There is also a possible rising wedge forming on the hourly chart that could mean the price will still rise somewhat to complete the wedge and most likely come in contact with the downtrend line at some point (both are moving targets) and that will complete the Large Descending Triangle that has been forming on the chart. All of these tings point to lower prices and the possible Triple bottom which I pointed out will (in my opinion) prove to be a false bottom. There will be a significant sharp drop in the price (equal at least to the height of the triangle) once support at the base of the triangle (location of the triple bottom) finally fails to hold. Just my 2-cents but, if all of this does unfold which is very likely there won't be much hope for higher prices this year. As a swing trader, I'll be trading elsewhere there are so many better trades out there now. Here's the chart: http://stockcharts.com/h-sc/ui?s=BPAX&p=60&yr=0&mn=1&dy=0&id=p69834298214&a=251873654&listNum=1