Stock Chart Analysis VNDA

Posted by downtowntrader | 5/03/2007 08:57:00 PM | 0 comments »

Stock Chart Analysis VNDA

Vanda Pharmaceuticals Inc. (Public, NASDAQ:VNDA)

I've been stalking VNDA for a few weeks now waiting for this correction to end. It has had a couple false signals, but it may be ready to move higher soon. It still hasn't filled it's sizable gap which can only be considered bullish. It cleared the first down trend line and is now starting to level off. Also notice the sneaky increase in volume hinting at possible accumulation. This is a very tricky stock to trade, but may be setting up for an intermediate term trade soon.

Good Trading,