Thursday, November 19, 2015

Anavex Life Sciences Corp. (NASDAQ: AVXL)

Anavex Life Sciences Corp. (NASDAQ:AVXL) stock today surged 66% or $2.16 to $5.40 per share at ten times average volumn of 3.39 million shares after the company announced that it was preparing regulatory filings for its Alzheimer's treatment. The daily technical chart shows possibillity of a new rally as the stock finally broke the downtrend line from the 14.84 high with volume expansion. Watch for continuation.

AcelRx Pharmaceuticals Inc (NASDAQ: ACRX)

AcelRx Pharmaceuticals, Inc., a specialty pharmaceutical company, develops and commercializes therapies for the treatment of acute pain. The company’s lead product candidate is Zalviso, an investigational, pre-programmed, non-invasive, handheld system that has completed Phase III clinical trials for the treatment of moderate-to-severe acute pain in the hospital setting. The company is also developing ARX-04, a sufentanil single-dose tablet, which has been planned to initiate Phase III clinical trials for the treatment of moderate-to-severe acute pain to be administered by a healthcare professional to a patient in settings of acute pain, such as in the emergency room, hospital floor, ambulatory care facilities, or on the battlefield.

Take a look at the 1-year chart of AcelRx (NASDAQ: ACRX) below with my added notations:

Since dropping suddenly in March, ACRX has been basically trading sideways ever since. During the sideways trend, the stock had created a clear level of resistance at $5 (green). A break above that $5 level should mean higher prices for the stock, and last week ACRX finally broke that resistance.

The Tale of the Tape: ACRX broke through its key level of resistance at $5. A long trade could be entered on a pull back down to that level. However, a break back below $5 could negate the forecast for a higher move and would be an opportunity to get short the stock.

Integrated Device Technology Inc (NASDAQ: IDTI)

Integrated Device Technology Inc (NASDAQ:IDTI) Nice breakout. If the stock can break today’s high of $27.58, we should see a strong follow through move.