Why I like Oxford Glycosciences......

[titus-uk]

Saw comments by Spock about this being his "share of the week"! Its one of my favs, and I think that its immediate future looks bright!

Between mid September and mid october, OGS soared by approx 60% - pretty impressive. It stayed there for 3 weeks, but when news of its issue came about, coupled with the general state of all tech sectors. The shares crashed by 50%, leaving many to speculate on both the timing and on lasting damage done to the equity - a bit like what many say about BHM.

However, the equity issue has been a success,
(http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT32ESCWGGC&live=true&useoverridetemplate=ZZZ3XDHE90C&tagid=IXL1B3OARCC) (http://www.thisismoney.com/20001208/nm24803.html)
with the issued shares being over-subscribed by 3:1 - no mean thing in this market. As investors realise this, they will become more confident and return - as they are already starting to do so.

From the charts, the price has bounced of its bottom of 1300, and has just crossed the 9dayEMA. The 9dayEma has just turned north, though the 18dayEMA has only just stabilized. The lower Bollinger has also just turned up. In terms of MA, you may want to wait a day or so to check the trend continues.

In addition, RSI is about 40 and rising, similarly OBV is the greatest its been, and rising. Over the last 3-days trading there have been large positive volume spikes, the MACD has just crossed (though admittedly negative), and stochastics have only crossed over 2 days ago,and just risen from their oversold levels.

All in all, and with the idea a rally may be upon us, I would say this is also my share of the week!!

Now, as you ALL know, I am learning!! If there is anything that I have misinterpreted, I would be grateful for your help in putting me right! I prefer a gentle word than a financial loss!!
Cheers, Mark




------------------

 

[Uncle]

Indicators look promising but the high/close price for the last two trading days has been excessive so caution is the watchword.

John

 

[Cigar]

I spotted OGS with a considerable divergence on the dirmov indicator and also RSI (5day).
I like the RSI because it initially fell very low (22/11 RSI<1). The price and RSI climbed a little on the 27/11 then the price fell to a lower low on the 5/12. But RSI didn't fall by same degree showing another divergence. The price and RSI have now climbed and, for me, confirmation is shown by the RSI now being above the level of the RSI high on 27/11.

Generally, I quite like the double bottom sequence with price and RSI (other indicators can be used).

CCI has been at very low levels and is climbing, OBV climbing. Now above 10 day ema.

 

[ChartMan]

Approaching resistance from May/June 1460/1480........

Martin

 

[traderx]

Spot on titus-uk, up £1.40 at 13.00 hours. For those who managed to get in could be a good day

Tx

 

[Cigar]

With 3 or 4 days of hindsight would anyone make suggestions why OGS didn't go farther than 1600 before turning into, what looks like today, a whipsaw in the downtrend.

We all spotted the turn at 1200, and perhaps hoped for a climb to 1800 (50% of recent fall). But it faded at 15/1600.

Reality spotted the old resistance/support levels.
Should we have seen the price was too far away from the bottom Bollinger Band.

Suggestions on a postcard..

 

[titus-uk]

Cigar - you are absolutely right. It is essential to look at EVERY trade you make - inc paper ones. That way you learn not too repeat mistakes, and to analyse what went right with a share, and look to repeat it.

Martins point about resistance was insightful - something that I had not looked at. Although it went through 1480 margin easily, 1600 held it up. Same happened in June, and further strength comes by the fact this was a support level in early september.
Regarding Bollingers - correct that it hadn't reached the bottom band. Other point is that the top band was falling steeply whilst the price was rising - maybe helping to indicate lack of strength?

Any other ideas will be welcomed. We are here to learn, share and gain knowledge, so that one day we will reap the fruits of our labours!
Mark

 

[spock]

Like the rest of you I am sorry that OGS did not reach my target of 1750 but I did only buy it a couple of days ago and fortunately sold it yesterday for a 75p profit because I was nervous about the whole market.For what its worth I bought it back today at 1475 and as yet see no reason to think it cannot go higher-but of course this can change! I must admit I do not see significant resistance at 1600 and vol was pretty low today.

 

[Riz]

down -52.5 (-3.5%) to 1455 ...something bothering me about the chart is that ever since beginning of Nov. this stock has performed lower lows lower highs...I'd watch at what point this last bottom is going to be formed before getting in..this last fall doesn't look as steep as the preceding 2..so hopefully a higher low this time..if not watch it...this stock can lose £5 or £6 in a few days..of course the other way round also being true..

------------------

[This message has been edited by rizgar (edited 14-12-2000).]

 

[ChartMan]

The TA on this is Bizarre- the stock responds to both Pvol and Nvol, with Pvol just getting the edge.Pvol is just a buy at the moment.For most stocks, Pvol and Nvol are complementary- one goes up, the other goes down, with one or the other being the 'BUY' indicator.
There is some non confirmation on CCI and TCI suggesting a rise.Velocity has indicated 2 buy signals,23/11, 8/12 , and no sell signals.Overall I would say if it's not at the bottom now, its close...and a close @1455 today is close enough to my suggested res/support of 1460/1480, to be a support level as opposed to a resistance level. The bounce to 1725 was so weak( gap up/down) its not suprising it failed.To me, the real bottom was on 22/11, and the bottom at 5/12 was a knee jerk reaction to the previous gapped high.Velocity failed to make a lower low here,(5/12) which it should have done if it was a valid bottom.
This is for information and interest only!It will be interesting to see how it pans out.
I see the next serious resistance at the 2000 mark.

Martin

 

[Cigar]

Have you noticed the Bollingers tightening up. And RSI is a higher low..