See below the weekly chart going back to early 2014 and showing the peak in March 2014 at which DNA tanked. It can be seen that the downtrend was broken in the week of March 13th 2015 but selling resumed after a few weeks. We are now into about the 4th week of the second breakout since the low in the week of January 22nd.
I am hopeful that this might be the real deal but the previous history is littered with false breaks so I have to be realistic and it will be a while before there can be any certainty about this break. The short activity has been fairly modest for some time now and the selling has moderated along with some increasing accumulation activity which has led to some positive price movement.
The overhang from the 65 cent CR must have been a factor for some of the selling and maybe that has mostly wound up by now , hard to say. In any case if we get to 70 cents this week it will likely be a good test of the underlying strength of this up leg, no doubt there will be some selling at this level and a break through 70 cents to signal new support would be a really good sign.....
Weekly
DNA Price at posting:
67.5¢ Sentiment: Buy Disclosure: Held
