Thursday, May 5, 2011

Quick Update on DNDN

DNDN has been dragged down by the market. DNDN is showign nice support at the 50-Day EMA. This is a great place to add positions. It broke through the S/R line, and the bullish flag formation hadn't panned out.

However, DNDN is an intermediate term play. Earnings and positive news on Provenge facilities should have been a nice catalyst. I do believe DNDN should hold here, as the selling is attributed to the overall selloff in the broad markets. The current selling, does not appear to be with conviction.

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