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Schaeffer's Option Activity Alert: Bulls Bet on a Breakout for Dendreon Corporation


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Published in Health and Fitness on Wednesday, January 14th 2009 at 12:16 GMT, Last Modified on 2009-01-14 12:17:00 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--Biotechnology stock Dendreon Corporation (NASDAQ: DNDN) has spent most of the past 12 months trading in a sideways channel between the 4 and 7 levels, but the equity's overall direction has been lower. The shares are down 31.5% during the past 52 weeks, and they have created a noticeable trend of lower highs during this time frame.

Meanwhile, the equity's few rally attempts have been rebuffed by its 20-week and 75-week moving averages. The former of these trendlines is dropping through the 5 region, which suggests the proverbial ceiling may be caving in on DNDN during the short term.

To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/option+activity+alert+bulls+bet+on+a+breakout+for+dendreon+corporation/observations.aspx?click=home&ID=90512 ]


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