I have posted previously (several times, in fact) re the growing opportunity for us investors in Isis Pharmaceuticals (NASDAQ:ISIS
). Remember, this company has a key statin deep into the clinical trials process, and all accounts have it that this drug shows a marked improvement over other statins currently available or in the pipeline. (Including the one from Arena Pharmaceuticals (NASDAQ:ARNA
).) This helps make the company a leading takeover candidate by an old-line ethical drug manufacturer such as Pfizer (NYSE:PFE
), whose own drug felled its hopes to create one internally. I prefer a buyout does not occur... Well, at least not yet.
So, yes, a big move appears imminent, as ISIS shares near an inflection point; in fact, two inflection points. Multiple levels of support lie at ~$10.75, ~50¢ below yesterday's last trade. Multiple levels of resistance converge at ~$11.50, ~30¢ above yesterday's close. This translates as an approximately 9% range between the two. This squeeze can continue to compress, could even breakdown albeit ephemerally, but upside momentum is busily and quickly refreshing itself. The moment -- an upside breakout -- seems nigh.
Thus, I place this opportunity front & center. It joins other recent winners, which includes among other favorites, Apple Computer (NASDAQ:AAPL) (remember that one, naysayers?) and Zumiez (NASDAQ:ZUMZ) -- which also nears an explosive move higher.
ISIS 1-yr chart:
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