I last covered Vical, Inc. (VICL) on the first of November in my article entitled Vical: All Systems Are Go. The article was positive, both from a fundamental as well as a technical standpoint. At the time the article was written, VICL was up in pre-market trading on the release of 3Q11 results. The stock’s price had recently broken through the 50-day moving average (at $3.00) and was again marginable. The 200-day moving average, at $3.25, represented resistance. The Daily MACD line was positive, indicating money was flowing into the issue.
At the close on November 4, the stock closed at $3.72, up almost 8% from the previous day’s close, and clearly in a new uptrend. Here are the latest graphics for both the Daily and Weekly technical data (courtesy StockCharts.com.):
On the Daily chart, the stock is approaching overbought levels (where it could remain for quite some time) while the MACD line shows that the smart money is continuing to flow into the stock. The weekly chart looks strong as well, with the MACD line about to turn positive.
What happened?
Well, several things, not the least of which was the recent, very encouraging presentation by Vijay Samant, Vical’s President and Chief Executive Officer. But beyond that, the company picked up a new recommendation from Credit Suisse, which started Vical at "outperform" with a $7 target. By the way, Vical will present at the Credit Suisse 2011 Healthcare Conference coming up next week (VICL, November 9 at 7:30 a.m. MT/9:30 a.m. ET). Vical had picked up another recommendation in April from Canaccord Genuity, which maintains a "Buy" on Vical and a price target of $8.00.
Anything else? Well, yes ... there’s this. On November 3, The New England Journal of Medicine carried an article titled "Hemophilia A Induced by
