San Diego, CA 10/9/2009 10:24:49 PM
Technical Outlook Posted for ENMD, ACPW, CHIP, and CXM
Cardium Therapeutics, EntreMed, VeriChip, and Active Power are scrutinized for clues about their future movement.
Charts of VeriChip Corporation (CHIP), Active Power Inc. (ACPW), Cardium Therapeutics Inc. (CXM), and EntreMed Inc. (ENMD) have been reviewed and analyzed, on a technical basis, by the Small Cap Network. The site's analysts have made long-term and/or short-term forecasts for each of these stocks.
Cardium Therapeutics was viewed as a potential bearish trade, stemming from a slow-moving (but accelerating) pullback from July's peak. VeriChip was also forecasted to fall, though the initial call was made days ago when the stock ran into a key technical ceiling. The outlook has not changed, though the remaining potential has diminished since then.
EntreMed is now a recommended sell following the site's buy recommendation from a few days earlier. A breakout above a key resistance line signaled the initial trade, but the stock has since reached and surpassed a price the analytical team felt was appropriate. In the meantime, trading on ENMD has been halted, so no exits can be made as of the time of this release. Once trading resumes though, any profits are still suggested to be taken
Finally, Active Power was not presented in a bullish or a bearish light, but rather as potentially both. The stock's chart is trapped between significant support and resistance levels, but it may be building some longer-term momentum. In the meantime though, ACPW may actually need to slide back and consolidate if a long-term breakout is to be sustained.
The discussion and analysis of CXM, ENMD, ACPW, and CHIP are intended to be trading ideas, though the Small Cap Network won't necessarily follow up on any of these discussions.
Charts of all four stocks are provided with the commentary. Where relevant, price targets are also offered. Investors can review the entire technical analysis of Cardium Therapeutics, EntreMed, VeriChip, and Active Power by visiting: http://www.smallcapnetwork.com/s/.
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The Small Cap Network web site and free newsletter offer in-depth fundamental research and technical trading recommendations on select companies within the global equity markets, including small company stocks, micro cap stocks, bulletin board stocks, and other actively traded stocks.
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