Stock Chart Analysis VNDA

Posted by downtowntrader | 5/16/2007 04:58:00 PM | 0 comments »

Stock Chart Analysis VNDA

Vanda Pharmaceuticals Inc. (Public, NASDAQ:VNDA)
I mentioned VNDA before as a stock I was watching for an entry on. I still hate the way this stock trades. It gets huge intraday moves on what appear to be buy at market orders, and then pulls back steadily until the entire move is retraced. However, it looks like it is setting up for a double bottom of the lower bollinger band with a nice MACD divergence. I took a small position in this today and will add if it moves as I expect it to.

Good Trading,