ANSV

[David Randolph]

Corgentech, Inc.. The Group's principal activity is the discovery, development and commercialization of a new class of therapeutics called transcription factor decoys, or TF decoys. (CGTK)

CGTK is a recent stock on the market. Its IPO was just about a year ago:



As you can see the company had two terrible announcements that provoke those two enormous gap downs. Price went down to the end of the earth, where there was a beautiful island:



With the stock down so much in the last few months, it only takes a small breeze, a tiny smell of good news to take this baby up for real. That happened yesterday:

Corgentech gets boost from positive pre-clinical data

I have to buy today at the open. I don't know if I'll win, if I'll lose, that thinking doesn't help me making trading decisions.

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[saffeysite1]

I dumped this, this morning.  I think it will be a while before this moves up.  I think a lot og bagholders selling as it moves up.

I Picked up TWTR to replace that position.  TWTR is hot today.  Hope it clears 3.

[David Randolph]

Humm, I still believe the stock will ultimately go higher - thinking this is just a consolidation phase. Not a lot of damage in the chart from the last day's decline:



The doji on Friday tells me the bears are undecided about selling more of CGTK. Bulls seem to have recharged batteries and will come back in force the next few days. We'll see ...

[David Randolph]

... with a big white candle on Friday 



But TWTR is bearish on the medium/long term chart, just be carefull with those resistance lines:



Good luck !

[dhiraj19]

Dear Randolph,

I sincerely think you'll read my message. CGTK is good buy. I have seen this stock on 3stocksonfire.org for approx 20 days. I also bought this stock at same price but have seen the trading volume going down. The stock seems to hold pretty well but what is the chance of its uptick rise rather than downward meltdown. I am new to investing but have been impressed with this website.  Also, I have only seen buys for the stock. No one is selling. Does it translate to uptrend and what timeframe does it take typcially? I'll appreciate your current thoughts for CGTK.

Regards,
Dhiraj

[David Randolph]

... to the hospital with my son now (nothing serious), I won't be able to answer your posts before the close, but I'm not selling CGTK, at least not today. I'm expecting a white, long, marubozu anytime.

Bye 

[David Randolph]

... and that's a good thing. The more the stock accumulates at this zone (like I said, without technical damage), the more and the faster it will rise when it starts. I'm expecting a big, white candle anyday, which will signal strong advance.

[David Randolph]

... of holding CGTK and sold way down. But bulls came for the rescue and bid the stock up again to its acummulation zone. Maybe the exit of these weak hands will clear the way for the expected advance.

[David Randolph]

... and we can see no end to it. But yesterday volume was the highest of the last 16 sessions, so maybe some resolution is coming.

Big movements take time to develop and just the fact that this falling knife has stop falling and held for so long makes me pretty convinced the next big move will be up, not down. But the market has the word, and he is always right.

[David Randolph]

Still holding and waiting on CGTK.

[David Randolph]

Nothing has changed over CGTK ... I guess «big movements take time to develop» still applies.

[seadog]

Does this stock have any future at this level or
will need to wait some more to get into it.
Your opinion is appreciated

[David Randolph]

No new technical information on CGTK. Still waiting. Answering seadog I would wait for a white day with strong volume to get in.

[David Randolph]

Still nothing new on CGTK. Such a tight range must be setting up a large move. I think that move will be up, but the market knows better. I'll wait for it to tell me.

[David Randolph]

Someday the castaway will leave this island to a better place ...