Charts of EnteroMedics, Clarient, and Cardium Therapeutics are examined as bullish trading plays.
Despite the fact that the market's in the red today, a few stocks from the small and micro cap end of the scale are actually hinting of upward moves. Perhaps investors recognize these smaller names may better resist and otherwise-bearish environment. Regardless of the reason, EnteroMedics Inc. (NASDAQ:ETRM), Cardium Therapeutics Inc. (AMEX:CXM), and Clarient, Inc. (NASDAQ:CLRT) all look like strong - - buys at this point. Here's a closer look at each one.
Actually, Clarient, Inc. (NASDAQ:CLRT) may be the least-developed of the three bullish setups under the microscope today. If we can get the stock over resistance at $2.67, then I'd fill much more confident.
And just so you know, CLRT is currently above that mark. It reached $2.70 today, and may well close above it. That's the key - can Clarient, Inc. shares actually hold onto this gain long enough to convince the rest of the market it's pulling out of a dry spell? It failed to do so with the prior two attempts.
I think this time will end up being different... in a bullish way. Though the bullish volume for Clarient has been nothing to brag about over the last two weeks, getting over the hump could draw the crowd we need. It doesn't hurt that the 11/04 gap still hasn't been fully closed, pulling CLRT higher as well. It's worth a shot anyway. This one has the potential to reclaim $4.00 if things go well.
Actually, Clarient, Inc. (NASDAQ:CLRT) may be the least-developed of the three bullish setups under the microscope today. If we can get the stock over resistance at $2.67, then I'd fill much more confident.
And just so you know, CLRT is currently above that mark. It reached $2.70 today, and may well close above it. That's the key - can Clarient, Inc. shares actually hold onto this gain long enough to convince the rest of the market it's pulling out of a dry spell? It failed to do so with the prior two attempts.
I think this time will end up being different... in a bullish way. Though the bullish volume for Clarient has been nothing to brag about over the last two weeks, getting over the hump could draw the crowd we need. It doesn't hurt that the 11/04 gap still hasn't been fully closed, pulling CLRT higher as well. It's worth a shot anyway. This one has the potential to reclaim $4.00 if things go well.
Is the breakout effort from EnteroMedics Inc. (NASDAQ:ETRM) something I believe in? In a word, yes.
Were it just today's 37% gain, I might not think that. It's not just today though. If you squint just right, you can see ETRM has seen three big accumulation days since the 14th. They're getting progressively bigger too. Factoring in the huge gap from early October, and EnteroMedics Inc. becomes a big recovery play that's finally starting to get traction.As for a target, ya' got me. The chart's been so volatile, there's no meaningful level for EnteroMedics shares that we can look back to and say 'there'. This is one we'll have to take one day at a time. I do,however, expect ETRM to make stronger than average moves.... even more so than other stocks with similar charts may be. In other words, you may not have a chance to buy on a dip, since when it really gets rolling it may not look back until it's reached its near-term peak price. Just a hunch, though one that suggests getting in sooner than later.
Cardium Therapeutics Inc. (AMEX:CXM), like EnteroMedics Inc., is another breakout I believe in.... one that's still got a lot of meat left on the bone. Today's 9% pop doesn't even come close to challenging prior levels, though it did shake the stock out of a rut - for the better.
Kudos to CXM for stopping the bleeding in early December; flat is better than falling. However, flat movement isn't quite enough to inspire new buyers into a position. That's changed today though. After having several weeks to regroup, the bulls have managed to full push Cardium Therapeutics Inc. out of a downtrend, and have likely started a new uptrend.
It remains to be seen if Cardium Therapeutics can actually follow-through on the effort. If it does though, a couple of strong days will actually get the ball rolling for what should be a couple of strong weeks (the stronger it gets, the stronger it gets.... seriously). I'd say if CXM can close above today's close on strong volume again anytime in the next few days, the stock is a great breakout candidate... well worth jumping into as a rebound play after October's drubbing.
Kudos to CXM for stopping the bleeding in early December; flat is better than falling. However, flat movement isn't quite enough to inspire new buyers into a position. That's changed today though. After having several weeks to regroup, the bulls have managed to full push Cardium Therapeutics Inc. out of a downtrend, and have likely started a new uptrend.
It remains to be seen if Cardium Therapeutics can actually follow-through on the effort. If it does though, a couple of strong days will actually get the ball rolling for what should be a couple of strong weeks (the stronger it gets, the stronger it gets.... seriously). I'd say if CXM can close above today's close on strong volume again anytime in the next few days, the stock is a great breakout candidate... well worth jumping into as a rebound play after October's drubbing.
No comments:
Post a Comment