Thursday, August 4, 2011

Dendreon Corporation (DNDN) Shorting the Record 8 Downgrades

Click on chart for larger image. See multiple arguments below.

Multiple Arguments:
  • News
    • Record 8 downgrades so far on DNDN adds pressure on intense overnight gap down.
  • Level II Refresher
    • Sellers clearly visible entering around $14
  • Momentum Trend
    • Very good momentum, volume spikes up significantly.
  • Signals to Sell
    • Price touches the daily EMA, but pressured back below.
    • After checking 15, satisfies level to prepare for 14-13.60 short.
Here's my chatter leading up to the moments of the DNDN short 14-13.60:

7:45a DNDN looks lower here
7:48a new lows dndn
7:48a looks lower 
8:28a Theres a gap in DNDN from way back that goes to 11.81

No comments:

Post a Comment