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XOMA Corporation Looks Poised For Technical Break-Out
Reasons Break-Out on $XOMA;
1. 52 week high reached on increased volume
2, Recent financing favorable towards company.
3. Baker Brothers own a ton, over 20M at last check.
4. Super bullish chart indicators.
I have marked in white the bullish indicators. Accumulation is super strong as indicated by the purple line. Note the MACD zero line hold over 0. Also note, where candles are marked, every solid yellow candle has had an up move the next day. Green RSI line is also in an area that is not over done.. Resistance level 6.25, late close over that at 6.30, with day/52 week high of 6.32. Note MACD trend down yet stock price subtly increasing.
As we see above, the candles are marked with white, showing each yellow candle that close at high of day or near, the next day we had a price increase follow-thru.
I think there is a chance of seeing $7 within 1 or 2 trading days. Obviously, we need to watch the indicators. A fair target based on prior follow-thru’s in my opinion is $6.60.
To see my video commentary on this chart at Investors Hub, click here.
