with today's news on Reuters : Japanese panel recommends approval for Xenoport's RLS drug http://www.reuters.com/article/2011...News&feedType=RSS&feedName=companyNews&rpc=43 Chart looks also great now
How in the world can you say chart looks great when this stock is trading near historical lows??? You may very well be right on your outlook but the technicals look terrible. Some insiders like this stock but most of them are under water in their purchases from the past couple years. Have you ever thought about trading/investing in higher priced stocks where the technicals and fundamentals are positively aligned and where there is momentum??
Looks awesome this article..... Do you remember ROYL ??? Source : http://ac-investor.blogspot.com/2011/12/some-possible-bounce-plays-to-watch.html "The company on the spotlight today is XenoPort, Inc., a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates, which utilizes the bodyâs natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. The stock on Friday surged 5% or 23 cents to $4.83 per share at two times average volume after the company announced that has received confirmation from its partner, Astellas Pharma Inc., that, following a meeting on December 2, 2011 in Japan, the drug evaluation committee of the Japanese Ministry of Health, Labor and Welfare ("MHLW") recommended approval of gabapentin enacarbil, which will be known by the trade name Regnite in Japan, for the treatment of Restless Legs Syndrome. This positive recommendation will be reviewed by the MHLW prior to its final decision on authorizing the marketing of Regnite in Japan for the treatment of Restless Legs Syndrome. The MHLW will issue a final notification to Astellas regarding its decision, which the Company expects to occur in the first quarter of 2012. Lets take look at the stock in more detail to see if this is the stock worth buying. XNPT is trading above its 13-day moving average and is approaching its 50-day moving average. A strong bullish trend is often established once shares cross the 50-day MA. The stock has witnessed phenomenal gains in valuation when volume enters. For example, in August shares of XNPT experienced a surge of over 38% in just 5 days !! So, with an influx of volume and light resistance above, the stock could make a solid upward move. There has been building support on shares of XNPT in the past few days with overall higher highs and higher lows, and I believe that from current levels which I believe are now trading at a deep discount from the past investors could witness a solid appreciation in value. "
Looking at your past recommendations I advise you to keep your day job. You seem to buy stocks that are in entrenched downtrends and right near their 52 week or historical lows. That runs counter to wealth accumulation.
XNPT new 52 week lows and new historical lows. You will never make it in this game with your strategy of trying to pick bottoms with stocks in entrenched downtrends. Your previous picks have been about as bad as this one. Try changing your methodology if you want to become a consistently profitable trader. And quit trading based on news.