XEN (Xenova), take a look at the chart

[Riz]

Looks like XEN which is widely considered underrated in the biotechnology sector is finally going to make it...

According to Suday Times "Two weeks ago, nine directors, including John Jackson, chairman, David Oxlade, chief executive, and Daniel Abrams, finance director, bought 304,670 shares between them at 25½p."

News of successful results from trials of vaccines for combating anal and genital cancer and rumours of more good news to follow...

With price up 4.75 (15.2%) to 36 on Friday breaking through a couple of resistance levels, chart started looking quite bullish...volume jumping to the highest level, RSI and Stochastics sharply ticking up, XEN certainly worth to watch as of monday

Riz

 

[Riz]

Looks like investors ARE following the directors and the chart and indicators signalling the right direction, up +6 (16.7%) today at 42, still worth to watch though

Riz

 

[Riz]

XEN was brought back to my attention by Investor Chronicle saying the two deals signed last year could be worth £70m each thus more or less covering current market value...XEN still has eight products in clinical trials..and cash enough to last for 2 years...thus quite attractive fundementally...

Chartwise price is moving on an uptrend having bounced off a major support level, RSI ticking up strongly, BBs widening up after a contracted period...

Overall its worth to put back on watch list...

Riz

 

[esiotrot]

I missed this thread when it first started, so I'm just catching up with this story.

I got into XEN when it went through 54p like a knife through butter (end Dec.2001) and expected great things of it. Although at first it went to 76.5 intraday it settled back to what I thought was going to be a Pennant with a target of around 84p!

Since then it has been something of a disappointment until just recently. There is a nice steady demand trendline formed and as you pointed out that resistance has now become support.

Where its going I have no idea. Why didn't I get out when it disappointed?? Because this was not a trading decision but part of an Investment Club I am involved with and we were still in the money.