AEterna Zentaris, Inc. AEZS
We called AEZS in yesterday morning’s newsletter as a potential bottom play to kick off the week, and our timing really couldn’t have been much better. After opening at .55, it would run to as much as .65; a solid intraday increase totaling 18%
Any time we can make a quick profit off of a stock coming off of its all-time lows we consider it a big success, and will continue to monitor this stock for further opportunities it may present with any continuing rebound action.
The turnaround came in conjunction with a PR notice that AEterna had signed a license and technology transfer agreement pertaining to the company’s “doxorubicin” anti-cancer compound with Sinopharm A-Think Pharmaceuticals, a division of China’s largest pharmaceutical company. >> Read PR
Energy XXI (EXXI) – Bottom Watch
Speaking of stocks trading at landmark low points, as an apparent result of the continued slide in oil prices in addition to a recent financial update that was poorly-received, EXXI has come down to find new 52-week lows.
We’re going to put this stock on bottom-watch, while noting that further losses for crude could actually cause it to continue pushing its lower boundary. That certainly seems to be the opinion of some analysts, but as ever, where others see lost ground, we see opportunity on the horizon.
Either way it shakes out, we could see a substantial recovery of the EXXI chart once oil prices begin to rebound, so we’ll tag it for our ongoing watchlist and monitor the situation moving forward.