Posted On: 04/25/2015 11:15:03 PM
Post# of 1096
Scalped it on the long side a few times last week. Used the support & resistance levels as guidelines & they played out nearly perfectly.
Holding some shares over the weekend hoping to see a break & hold above 1.75 followed by a break above the "mini" blue sky breakout above 1.88
If it breaks out above 1.88 it may just have the momo to push it up above 2.00
Have only done a little DD. Seems it's a "shell" that gains royalties from a number of drugs previously owned & now marketed by other companies. Some believe it to be a potential buyout target - if that's the case, one might want to look back at the price history. Found that pretty impressive.
I know Merck (ticker: MRK) markets one or more of the drugs ... they report earnings on 4/28. Those numbers may play a role in the price of ENZN moving forward in the short term.
I know one thing for sure from Friday - somebody was buying a boatload at the 1.65 price level.
Good luck!
Holding some shares over the weekend hoping to see a break & hold above 1.75 followed by a break above the "mini" blue sky breakout above 1.88
If it breaks out above 1.88 it may just have the momo to push it up above 2.00
Have only done a little DD. Seems it's a "shell" that gains royalties from a number of drugs previously owned & now marketed by other companies. Some believe it to be a potential buyout target - if that's the case, one might want to look back at the price history. Found that pretty impressive.
I know Merck (ticker: MRK) markets one or more of the drugs ... they report earnings on 4/28. Those numbers may play a role in the price of ENZN moving forward in the short term.
I know one thing for sure from Friday - somebody was buying a boatload at the 1.65 price level.
Good luck!
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