Stock Picks For Thrusday: Thursday: Spectrum Pharmaceuticals And SciClone Pharmaceuticals

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Stock Picks For Thrusday: Thursday: Spectrum Pharmaceuticals And SciClone Pharmaceuticals

By Antonio Costa on June 25, 2009 | More Posts By Antonio Costa | Author's Website

Chart courtesy of www.stockcharts.com ( click to enlarge )

SciClone Pharmaceuticals (SCLN) was correcting in a downward channel after having doubled in value. Today, the stock finally broke out of a downward trending channel on strong volume and looked poised to move higher to test the May highs. A move to the 2.42-2.50 range appears likely. The technical chart shows positive sign as the stock has just rose above the 13 day moving average again and RSI moves up. Shareholders may remain invested with a stop-loss at 2.15.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Spectrum Pharmaceuticals (SPPI) - The stock is trading near its all time high. Buy only when the stock breaches $6.35. Once the stock breaks this level we should see a strong upside move. SPPI will move very quickly, so keep the stock on your screen throughout the day on Thursday.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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