ATHX Update

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Triangle fails & ATHX             trades to 50 week moving average, prints hammer candle & follows through on reversal. Since Jan2013 the 50 wkma indicates strong support. Price pattern sets into megaphone during biotech sell-off beginning in Feb14. Last weekly candle, gravestone doji closing at the .236Fib of the recent run-up. (IF) a megaphone then time to trade up (ELSE) ATHX             may setup into a down channel , likely to retest to 50wkma -or- the rising trendline connecting recent lows. Price reaction and news on the 8May earnings call are nearest term catalysts. UC             Phase II results are also in-play soon. RE Gravestone - (Investopedia) This pattern is commonly used to suggest that the direction of the trend maybe be nearing a major turning point. It can also be found at the end of a downtrend, but this version is much more rare. (note the volume on the weekly GSD)
Adds: Analyst Coverage
1. http://www.streetinsider.com/Analyst+Comments/Maxim+Group+Maintains+Bullish+Outlook+in+Athersys+%28ATHX%29+Despite+Trial+Failure+and+Massive+Sell-Off/9417122.html
2. http://www.streetinsider.com/New+Coverage/First+Analysis+Starts+Athersys+%28ATHX%29+at+Overweight/9419872.html
3. Zachs has a strong sell rating (mid Apr) (curious as it's based on earnings, and earnings on a Bio in P2 should not drive the rating, imho)
Updating as the Chart blew up after 8 week UC Trial results reported (and 51% sell off) - Trial described here: http://finance.yahoo.com/news/athersys-announces-results-phase-2-110000108.html "MultiStem Demonstrates Good Tolerability and Safety Profile But Fails to Show Efficacy Over 8 Weeks in Patients With Chronic, Advanced Ulcerative Colitis". (My belief, as I'm holding long) ATHX (may be considered as a very speculative trade) a buy under the 50week DMA. For traders looking at the details (and not just the headlines) ATHX has a good pipeline w multiple (9) trials in work. These span care categories of 'acute' vs 'chronic' illness. The UC Trial falls into the chronic category where their MULTISTEM treatment did not exhibit the desired efficacy at the 8 week point (based on 1 dose in chronic care patients). In the acute care category MULTISTEM (may) be found more effective with a Stroke Trial (2H14) on watch.
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