Tuesday, February 24, 2015

Sangamo Biosciences, Inc. (NASDAQ: SGMO)

Sangamo BioSciences, Inc., a clinical stage biopharmaceutical company, focuses on the research, development, and commercialization of zinc finger DNA-binding proteins for gene regulation and gene modification in the United States. The company has collaboration and license agreements with Shire International GmbH and Biogen Idec Inc.; and strategic partnerships with Sigma-Aldrich Corporation, Dow AgroSciences, LLC, Open Monoclonal Technology, Inc., F. Hoffmann-La Roche Ltd, and Hoffmann-La Roche Inc. Sangamo Biosciences, Inc. was founded in 1995 and is headquartered in Richmond, California.
Take a look at the 1-year chart of Sangamo (Nasdaq: SGMO) below with my added notations:
1-year chart of Sangamo (Nasdaq: SGMO)
Other than the steep decline in March and April, SGMO has been trending primarily sideways over the last year. During that time stock has created an obvious resistance level at $17 (red). A break above that $17 level should mean higher prices for the stock.
The Tale of the Tape: SGMO has a key level of resistance at $17. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $17.
Please share this article

No comments:

Post a Comment