FreeSeas, Inc. FREE
The 200DMA sitting at .99 is going to be the next major resistance hurdle for FREE. Granted the fact that the stock is up approximately 660% from recent lows, it certainly may be a time to start thinking about taking profits off of the table in anticipation of a pullback.
Zalicus, Inc. ZLCS
ZLCS is a morning gapper that popped up on our scanners today. The stock recently made a nice 94% move (.48-.93) from the beginning of August to the beginning of September. The chart looks ripe, with a recent golden cross taking place, and the stock making higher highs and higher lows. The level of support in September has been .71, and main resistance is sitting at .93. This will be a stock that we want to keep an eye on going forward.
ZLCS is a biopharma company that develops treatments for pain, and currently has a drug undergoing Phase 1b clinical study.
ArQule, Inc. ARQL
Speaking of stair-steppers, ARQL has been on a tear since last Thursday when it touched a low of 2.12. Yesterday the stock reached a high of 2.53, a move of 19%
Both yesterday and the day prior, ARQL had breached the 50DMA at 2.47. We’re watching the stock currently gapping up to the tune of 2.88, up another .41 (+16%) from yesterday’s close. In breaking the 2.80 mark in premarket trading this morning, the stock has surpassed a a recent level of resistance around 2.80. Any time we find a big-board stock with this kind of momentum, we like to pay close attention.
The next levels of resistance that will need to be cleared is sitting at 3.05 and 3.10, swing-highs from May and April, respectively.