The last few days saw shares change hands from the impatient to the patient. This will, most likely, push the upcoming rally towards next news higher than the previous one as share register got tighter yet again.
The consolidated bottom was not as low as many feared, I guess there is simply too much to the story to linger for too long at low volume, particularly International exposure through ISIS and the antisense story as a whole. The US market is a lot more biotech savvy than the ASX, a tendency which I see in flux and changing towards a stronger interest in the biotech sector here as well.
Great buying signal at end of session and a move into mid 3's tomorrow should be on the cards. I strongly expect a close around 3.1 /3.2.
There will be only thin corporate news from the US overnight, so I do not expect any wild swings on the DOW which should provide favourable parameters to continue the upwards trend of the last trading hour today.
I was curious how long it would take market to move back into buying sentiment for ANP and the short duration of the consolidation period presents us with a bullish outlook.
ANP remains the flavour of the biotech, amongst very few others, in OZ and I would expect a rise towards 4 to 4.5 cents prior to next news which should hit within a week.
Should news cover ATL1001 partnership details and license deal figures or cancer trial details, or ATL1103 related financial news, we should see a doubling in shareprice within a short time.
ANP Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
