Biosensors   

Is Biosensors a good buy?

SGM on 23/july/2007 on proposed amendments to the rules of Esos 2004 and the biosensers performance share plan. all this is preparing ground for takeover of the company.

so start stock up and wait for it to run up.

 

 

Mini Inverse Head & Shoulder Neckline resistance 1.02 taken out today with Bullish Engulf candle @ higher than avg volume.
Also, MACD already trending up. pending to break signal line.
[unvested opinion;monitoring closely on sideline; probably tomolo] 

Bollinger bands also forming towards convergence.. Large price action soon.

Never an inducement for any trade action.

 

Bollinger bands are pretty tight. There may be some large price change soon.

 

After the recent attempt to clear 1.02-1.03, Biosensor seems to have stabilised at current levels, with minor resistance at 1.04 (which it tried to clear today, but was unsuccessful), and minor support at 0.985.

Bottom line - the technical picture looks slightly better, with the possibility of it going up to 1.09-1.12 area, if 1.04 is broken to the upside.(1.04 should preferably be broken at closing price)

However, if the 0.955 support area is broken to the downside - it will look quite negative.

 

After the recent rally to a high of 1.12, Biosensors seems to be forming a base at its 50 %  fibonacci retracement level at 0.95 cents.

A drop below 0.95 cents will negate this consolidation phase, but if this level continues to hold and if the stock can pierce thru the small resistance levels at 1.02-1.03 and stay on top there, then there is a decent chance that it can try to reach its high of 1.12, and maybe even surpass that.

 

 

TA charts still show signs of bearishness. Acc/Dist and Chaikin are both downtrending.

 

Using the fibonacci retracement levels, Biosensors is trading at the 38.2 % retracement level (rally from 0.775 - 1.12). This level of 0.99 cents also represents one of the major resistance areas, which it had not broken for a yr or so, but which it had recently broken out of. Hopefully, it will be supported, failing which, - /quote

 

Under trend charting, this support of 0.975 is a fairly strong support due to its resistance formation since June'06 & taken 1 year to break thru @ high volume.

The breakout @ May'25, followed by pullback is seem as a normal trading behavior. Should see it testing its recent high of $1.12 in time to come. Personal opinion.

 

Xtent, Inc. Licenses Coating And Drug-Eluting Technology For Its Custom Nx? Coronary Stent System From Occam International B.V.

Menlo Park, California ― (BUSINESS WIRE) ? May 24, 2004 ? Xtent, Inc. and Occam International B.V., an affiliate of Biosensors International, jointly announced today that they have signed a license agreement to incorporate Occam's proprietary coating and Biolimus A9 Ô drug on Xtent?s Custom Nx Ô Coronary Stent System. Under the terms of the agreement, Occam will license certain intellectual property rights to Xtent and provide stent coating services to Xtent, and in return will receive an up-front cash payment and royalties...--bewing 3 plus years

 

My apologies - The CEO's actual remarks are 'European Authorities continue to  review our Biomatrix CE Mark application and we expect a final decision soon'

 

 

Using the fibonacci retracement levels, Biosensors is trading at the 38.2 % retracement level (rally from 0.775 - 1.12). This level of 0.99 cents also represents one of the major resistance areas, which it had not broken for a yr or so, but which it had recently broken out of. Hopefully, it will be supported, failing which, -

THe next level of support is at 0.95 cents, which also represents the  50 % retracement level.

On the fundamental front, the CEO of biosensors has stated that they are expecting the CE mark approval 'soon'.

He also mentioned that if not for the recent stent controversy in Sept 2006, the company would have got the CE mark approval last yr, and that the European authorities would have been in agreement with him on that 'remark'.

He reiterate that it is a question of 'when' they will get the CE mark, and not of whether they will get it.

On the approval of the drug patent for Biolimus, there are opportunities for it to be used in the area of 'organ transplant' as well.

 

 

Wow.. this counter's TA charts change sentiments pretty quickly.....

Now, its short term outlook is quite bearish. The Acc/Dist and Chaikin are both downtrending.... not a good sign in the short term.

 

 

definitely goo buy

 

Aiyo, its biz doing so good.
Super competitor Condor also out of its way now. &

Had been granted a patent for its Biolimus A9 drug by the United States Patent and Trademark Office; now be able to produce, distribute and use the drug in other medical applications.

How can worth $1? $2 also won't be paiseh for this BIG!!
I just buy @ $1.08. I think its already a steal for a counter like this.

6mths from now, then see how.

 

This morning broke the resistance of 0.99. (ref to Dec n Feb price). With high Volume!! next resistance should be 1.3, the price it was one yr ago. Buy @ today price. (any price!)

 

Anyone knows which house made coverage for this?

 

Is it an ang moh?

 

Didn't anyone notice the big manuoevring in Biosensors yesterday?

 

Meantime Yangzijiang is attempting the short squeeze now ..... seems like a super hard one .....

 

If Biosensors move into positive territory again today ..... the big time shortists will be in for big time trouble .....

 

Think Biosensors got SUPER BBs support, or else how can it run so super fast.

 

Target for Biosensors is probably much higher than this.  $1.50 or more ?

 

 

Biosensors is very bullish now from TA charts. I don't see any trend reversal from charts yet.

 

Just don't short Biosensors. Has the ability to pull surprises.