DNA Bullish Reversal Breakout
By Johns Wu on Jul 05, 2006
DNA, Genentech Inc, has broken out of a downtrend. This is a bullish reversal.
Last week, it gapped up to clear the downtrending resistance. However, the breakout was halted by the weak resistance at around $83.55. It looks like DNA has cleared this resistance today.
The market loves this stock, so keep it on your watchlist for a swing trade. It never hurts to be on the same side of the fence as the institutions.
This entry was posted on Wednesday, July 5th, 2006 at 8:34 pm and is filed under Annotated Analysis.
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DNA is going into earnings. That could be the catalyst.