ASTM - Sector: Healthcare---Industry: Biotechnology & Drugs

[Melf Elf]

Thai,

It's looking better.  This little Barbarian is at The Gate, champing at the bit for a two-year Falling Wedge breakout.  Given the sharp angle of descent though, it will need to be packing some punch if breaks out, with immeditate resistance overhead at 1.57, then at 1.63.  Resistance at the bottom of the Kumo (Cloud), basis the weekly, chart stands at 1.7175. 

Sold ½ my position in ASTM at 1.31.  Gain 8.3%.

As much as I like the longer-term possiibilities in this stock, presented above, the last two candles are nasty, and I don't like the close below the 1.33 breakout.

That was unfortunate, to get that 1.31 close.   

My trading plan was to sell 50% at the 1.54 target, then let the rest ride, given that the 1.54 target now is above the Falling Wedge breakout.

Since I've got only ½ my position remaining, I'll sell 25% at/near the 1.54 target, and hold the remaining 25%.

if it comes anywhere near my 1.21 enty, I'll sell the remaining ½ position.

That's still my plan.

Good luck!   

[Ramsburg]

Update:
Like STEM, ASTM had a nice session last Friday, not closing at the highs of the session but showing power and another volume increase... $1.55 is an important resistance for this stock, and that's why we have been a suggesting an exit price near that spot... But temporarily and facing the current bullish setup we'll take out that exit suggestion and just wait for developments, ASTM may be moving along with STEM for higher (than expected) ground, and we'll take a risk.

Trading Plan:
Hold, with suggested stop near $1.23

Regards,

[Melf Elf]

Sold remaining ½ position is ASTM at 1.37.  Gain: 13.2%.  Gain of the trade: 10.7%

Since I've got only ½ my position remaining, I'll sell 25% at/near the 1.54 target, and hold the remaining 25%.

if it comes anywhere near my 1.21 enty, I'll sell the remaining ½ position.

I thought that we'd get the 1.54 today, but the high only was 1.49, then ASTM reversed at resistance and finished on a Dark Cloud Cover that nearly is a Bearish Engulfing pattern.



This still could be okay, but I decided to take the money.

[Ramsburg]

Update:
ASTM also loosing some momentum... We expect a positive reaction at these levels, since $1.33 was the previous relative high before the recent breakout.

Trading Plan:
Hold, with suggested stop near $1.23

Regards,

[Ramsburg]

Update:
ASTM and STEM are doing pretty much the same on the short term consolidation range of each of it charts.
ASTM is holding above the breakout level, showing strength... let's wait.

Trading Plan:
Hold, with suggested stop near $1.23

Regards,

[thai626]

ASTM looking very strong here!!   

It's still my favorite of all the stem cell companies although this company isn't really about stem cells.  That's the biggest misperception people have about this company.  Sometimes that's good but sometimes that's BAD!!  But in this case, it's GOOD GOOD GOOD!!!   

Thai

[Ramsburg]

Update:
ASTM just had an incredible breakout with heavy volume, moving ahead of our previous suggested target of $1.55 and making a new relative high...
The $1.50 / $1.55 range should now be a support level in case of consolidation, but taking this chart seriously, ASTM looks like «motivated» for a higher ride...
The next «known resistance» for ASTM is near $2.00, momentum is strong, and we'll be holding it a bit more with this trading plan:

Trading Plan:
Hold, with suggested stop near $1.35 and a suggested exit above $1.75

Regards,

[Ramsburg]

Update:

An interesting article about Stem Cell stocks was published on Market Watch:
- Market betting on stem-cell stocks
Commentary: Election gains for research bakers could boost shares

ASTM had a corrective session after breaking out the resistance, which is normal. The Annual shareholders meeting will be placed tomorrow before the market and will be broadcasted here: 
We'll keep the same plan for now:

Trading Plan:
Hold, with suggested stop near $1.35 and a suggested exit above $1.75

Regards,

[Ramsburg]

Update:
Another corrective session for ASTM, which is still holding above the previous relative highs for this swing. Volume has decreased a bit, which is normal on bullish consolidations. We expect ASTM to hold the current high levels and to have another ride to the upside soon.
The Annual shareholders meeting will be placed today at 9AM before the market and will be broadcasted here.

Trading Plan:
Hold, with suggested stop near $1.35 and a suggested exit above $1.75

Regards,

[Ramsburg]

Update:
Quite a volatile session for ASTM, the stock tested the ascending support level at the lows of the day and was able to close above the breakout level again. The overall technical mood was bullish, let's wait.

Trading Plan:
Hold, with suggested stop near $1.35 and a suggested exit above $1.75

Regards,

[Ramsburg]

Update:

Press Release:
Webcast Alert: Aastrom Biosciences Announces Its First Quarter Investor Conference Call:
When?: Thursday, November 9, 2006 @ 11:00 am (EST)

Taking in consideration the magnitude of October's rally, ASTM is holding quite well these recent high prices. The stock has been consolidating near the breakout level, volume is decreasing, which is normal during a bullish consolidation, and the overall bullish pattern looks solid.
The Earnings Conference will be presented next Thursday, I'm not sure if we'll hold ASTM through earnings yet, but I expect some positive price action again before Thursday, till then the trading plan will be the same:

Trading Plan:
Hold, with suggested stop near $1.35 and a suggested exit above $1.75

Regards,

[Ramsburg]

Update:
Not a nice session for ASTM, closing below $1.50, and testing the ascending support line. We are just going to upgrade our suggested stop to $1.45 and wait a bit more.

Trading Plan:
Hold, with suggested stop near $1.45 and a suggested exit above $1.75

Regards,

[Amarens]

Hi Frederick,

I was stopped out yesterday at $ 1,51. As of Friday I decided to put in a raising stop ($0,02 a day) because I wanted to lock in my profits. It's happened a couple of times now that I saw them walk away.

I'm happy with a nice 11%  . Will keep my eye on ASTM. Thanks for the tip!

Amarens

[berloga]

Hi Ramsburg,

Are we holding through the earnings tomorrow (Nov. 9-2006 at 11am)? It is good that
the release is after the market open - there should be a time to place a stop (Ameritrade does not accept after hours stop limits).

Thanks. Berloga.

[Ramsburg]

Hi Ramsburg,

Are we holding through the earnings tomorrow (Nov. 9-2006 at 11am)? It is good that
the release is after the market open - there should be a time to place a stop (Ameritrade does not accept after hours stop limits).

Thanks. Berloga.

Sorry Berloga, I wasn't able to give you a prompt reply because our server was down :-( I'm sorry... 

Update:
ASTM was down again after the conference call, losing all of Tuesday gains, and testing once again the breakout zone.
So far, the technical bullish scenario is still in play, but we are a bit apprehensive at this point. ASTM needs to hold above $1.50 short term in order to accomplish a continuation of the current swing.
We believe our plan still fits this scenario, we may easily be stopped in ASTM, but we must protect some of our profit, so the stop @ $1.45 is still the best way to handle this situation.

Trading Plan:
Hold, with suggested stop at $1.45 and a suggested exit above $1.75

Regards,