Gediminas Jasionis

OXiGENE, Inc. (NASDAQ:OXGN) Buyers Should Be Quick

by Gediminas Jasionis July 15, 2010
5OXGN_chart.pngThe low priced OXiGENE, Inc. (NASDAQ:OXGN, OXGN message board) is heading higher after the bottom bounce off on what is likely to turn out a short term play.

The stock price was propelled by a technical pincher play. PPO and ADX indicators have pinched together as shown on the chart. It is a considerably strong reversal signal when the two start to move in opposite directions once again. The volume appears strong and technically we have three days of consecutive price growth already, so the stock is very noticeable on the market.

Possibly, many short positions got taken out by this bounce, adding to the volume with short squeeze buying action. There are no fundamental reasons for a full scale trend reversal though, so a short term rally and prolonged consolidation could be a more considerable possibility here.

4Oxigene_logo.jpgThe company has been warned by the Nasdaq to get their share price above $1 if they want to stay on the exchange. The company has yet to submit plan of action to address this issue.

Fundamentally, the company is faced with the need for additional funds as they still have tests to run on trial drugs. Cash on hand reported in the latest SEC filing was not enough to sustain their operations for another quarter - more stock sales are likely to happen.

Comments 1

1. Guest
October 05, 2008, 10:22PM

Quotes Ms. Lukaczyk, I admire your achievements. What challenges, opportunities do you see
with the current economic circumstances facing Wall street, as ithey relates to your business?

In reading about your career, it seems that you have ideal educational experience, given
your MBA from Darden etc. What were you doing prior to the late ninties, which lead you to
the venture capital industry? Were you involved in any other types of industries on a
management level before the late ninties?

Also, do you have a regular schedule of public appearances, such as speaking engagements.

Type the characters that you see in the box (5 characters).