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Market Report 16 April

Phosphagenics continues significant uptrend; soars 10.7% on robust volume.

Phosphagenics soared 1.50c (or 10.7%) to close at 15.50c. Compared with the All Ordinaries index, which fell 16.8 points (or 0.3%) on the day.

Phosphagenics is Australia's 3rd largest biotechnology company with a market capitalization of $114.7 million.

Among biotechnology companies it has the highest total assets and 16th highest revenues.

Its price change has been positive in the short-term over 5 days and medium-term over 3 months despite its fall over the period of 1 year. Its short term rises have been combined with strong volume resulting in strong momentum rises over 1 day.

Significantly its price of 15.50c is at a premium of 72% to its 200-day moving average price of 9.0c. Its 52-week range has been 20.0c to 5.0c.

Bullish Signals:

The price soared 34.8% in the last week and 72.2% in the last month. This has been propped up by robust volume of 2.2 times average for the week and 2.1 times average for the month.

Compared with the All Ordinaries index which rose 0.7% for the week, this represented a relative price increase of 34.1% for the week.

In the Australian market of 1,443 stocks traded today, the stock has a 6-month relative strength of 94 which means it is beating 94% of the market.

A price rise combined with a high relative strength is a bullish signal.

The stock traded between an intraday low of 14.0c and ten-month high of 17.0c.

The price range has expanded in the last two days (from 2.0c two days ago to 3.0c today) which, accompanied by a price rise, is a bullish signal. Today its volatility of 21.4% was 10.6 times its average volatility of 2.0%. A price rise on high volatility is a bullish signal.

Ends

So to recap: POH has risen from 5th to 3rd largest bio in the past week and we've out performed 94% of the market.

It's been a great week, but now I need to attend to another matter: