NMTI - Cup with Handle formation??

Discussion in 'Stocks' started by topdown, Apr 11, 2007.

  1. topdown


    Thinking of taking a position in NMTI and it looks like it was on the verge of breaking out today. Any opinions on the cup with handle formation I see on the daily chart starting on about 3/5?
  2. Good AM TopD!


    First thing I do is take a gander at that RSI up at 80 where the stock has fallen from numerous times that's
    a NEG.

    Next I check important recent dates earnings release which came on March 6 & A Presentation at a conference (believe it was Cowen) March 12-15...
    How did the stock preform on those two " news " days?

    Well Huge gap down on earnings! March 6 BAD
    And after a nice presentation more slide after the conference. BAD.

    Now the good news on a volume SPIKE down we suddenly lost all the sellers @$12. So we have here more of a Long Term Play than a ST one I believe with $12 being very nice support now. Most Price Targets remain in nosebleed territories of $20... rising on somewhat low volume not a huge concern to me in this case-- would expect to see some Insider Buying as the stock stabilizes haven't seen that yet...

    This looks safe but not exciting. ~ stoney
  3. This is Feb news but applicable because it describes the moving up approval for stroke indication for their valves or whatever which would be great for this co-- moved up to 09 from 2011 or so!!

    >> so get a handle on that part of the story TD!

    Thursday, February 22, 2007

    - CIBC notes that On March 2, the FDA s Circulatory System Devices Panel will discuss and make recommendations regarding clinical trial designs for Patent Foreman Ovale (PFO) closure devices intended to prevent recurrent stroke. NMT Medical (NASDAQ:NMTI) and AGA (private) will be the main participants, as they have the clinical trials that are furthest along (see CLOSURE I below). In fact, NMTI is furthest along and thus stands to most greatly benefit from this discussion. It is firm's belief that this Panel discussion will be positive for NMTI common, resulting in possible recommendations for a more achievable trial design. This could entail either 1) a reduction in patient enrollment requirement from 1,600 to somewhere around 1,000 or less or 2) a change in randomization to 3:1 from 1:1.

    While they currently expect approval for the stroke indication in late 2010/2011, a change in the protocol of the trial may allow the company to achieve approval sometime in 2009, a significant positive. Notably, the firm has been hearing that enrollment in AGA s RESPECT stroke trial has also progressed very slowly, and they believe that company is several hundred patients behind NMT Medical.

    CIBC believes the first half of the day will be open to the public, while the second half will be closed door meetings with the companies. As usual, the FDA will make background material available a day before the meeting.

    Maintains Sector Outperformer and $21 tgt on NMTI.
  4. jo.m


    NMTI looks good on the 20 minute chart to hit 14.36 safely - already up today. Thanks for the tip on this stock.
  5. jo.m


    NMTI all set to go up to 14.20 on the 5 minute chart - if it closes at 14.20, then it will probably make a down correction before going back up to the 20 minute target (see above).