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Tuesday, February 14, 2012

GERN Setup

GERN is one of the small cap stocks in my IRA, along with CPST.  GERN is a biotech play with emphasis on cancer treatments.  It has recently broken the down channel after a double bottom in December.  The first target after the flagging is through is 2.39.  The next target is 2.60.  The down channel has not been backtested, so that is one concern longer term, especially with MACD crossing down on the daily.  Shorter term is still a possible play with MACD on the 60 minute being reset.   So this is one candidate where you get an initial entry for longer term holding, but potentially turned into a swing trade should it shot up first before backtest.

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