DNDN recovery some loses !!
Saturday, May 12, 2007
Chart courtesy of stockcharts

Dendreon Corp shares were up on Friday 10% closing at 6.11 recovering a liitle of the big loses that stock surfered during this week mainly on Wednesday after the Food and Drug Administration asked for more clinical data on its prostate cancer treatment candidate Provenge before it will allow the drug to be sold. Also on Thrusday Banc of America downgraded and shares lost another 12%, so yesterday recovery was perhaps some short covering. I think stock found some support between 5.50$ and 6$ for the near term. Let's see if stock will close next week above 200dma, to give more confident to Bulls.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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posted by Pro Investor Trader at 4:36 AM | Permalink


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