Between a Rock & a Hard Place: Cardium Therapeutics (CXM), Samson Oil & Gas Limited (SSN), Dex One Corporation (DEXO)
You know those stocks that are right on the verge of a big move one way or another, but can't quite seem to get the right nudge? That's Dex One Corporation (NYSE:DEXO), Samson Oil & Gas Limited (AMEX:SSN), and Cardium Therapeutics Inc. (AMEX:CXM) right now. They're all technically trapped between a rock and a hard place, but are on the verge of being slung - higher or lower - in a very trade-worthy way. Take a look.
Two months ago when Cardium Therapeutics Inc. jumped from $0.13 to an ultimate price of $0.59, traders were excited, but understandably concerned. With that kind of move (which kicked off with a big gap), CXM was packing a lot of pullback risk. Sure enough, the stock slid back to lows of $0.31 on Friday.
The good news is, the 200-day moving average line acted as s support line, halting the decline of CXM. The bad news is, the rebound effort on Monday was blocked by the 20-day moving average line at $0.38. Shares are squarely in between the two right now. This one could go either way, but no matter which way it goes, the end result could be explosive. At least Cardium Therapeutics was kind enough to show us where its make or break points are.
Three weeks ago, James Brumley opined that the phone directory business had just turned the corner. Along for the ride was Dex One Corporation, with its shares managing to move above key short-term moving average lines just a few days prior to the commentary. Though DEXO had fallen back from a high of $1.44 to a low of $0.71 just a few days ago, the pushoff of that floor [it was also support in mid-November] has likely sealed the deal for the rebound effort - we're clearly seeing higher lows.
DEXO still isn't quite over the final hump though. While it's not all that clear on the nearby daily chart, on a weekly chart of this name we're seeing a very healthy, well-paced, bowl-shaped revival unfold. The 100-day moving average line, currently at $1.23, is actually the yes/no mark for this rebound effort from Dex One Corporation. Almost there, so keep it close and hope it makes a well-paced move above it rather than rocket past it in an unsustainable move.
Finally, though Samson Oil & Gas Limited may also be caught between a rock and a hard place, there's no sense in denying that its boundaries are still bearish. The falling resistance line and falling support line for SSN extend all the way back to March, and though we've seen brief glimpses of hope that the falling trading range was going to be bullishly breached, another key resistance always managed to step in and push this independent oil name back into its bearish zone. And as you can see, Samson has fallen back into that zone with a vengeance as of Monday, thanks to some persistent resistance at its 20-day moving average line.
Point being, while the ebb and flow is apt to continue for SSN, the boundaries of the bearish trading range have been staunch, and are likely to keep this chart held in check for better and for worse.
Yes, eventually Samson Oil & Gas Limited will break out of this rut, and when it does the move should be explosive. In that sense, SSN was like Cardium Therapeutics in that it was kind enough to point out where those make or break lines are. In the meantime though, there's no reason to try and squeeze blood from a turnip.
Two months ago when Cardium Therapeutics Inc. jumped from $0.13 to an ultimate price of $0.59, traders were excited, but understandably concerned. With that kind of move (which kicked off with a big gap), CXM was packing a lot of pullback risk. Sure enough, the stock slid back to lows of $0.31 on Friday. The good news is, the 200-day moving average line acted as s support line, halting the decline of CXM. The bad news is, the rebound effort on Monday was blocked by the 20-day moving average line at $0.38. Shares are squarely in between the two right now. This one could go either way, but no matter which way it goes, the end result could be explosive. At least Cardium Therapeutics was kind enough to show us where its make or break points are.
Three weeks ago, James Brumley opined that the phone directory business had just turned the corner. Along for the ride was Dex One Corporation, with its shares managing to move above key short-term moving average lines just a few days prior to the commentary. Though DEXO had fallen back from a high of $1.44 to a low of $0.71 just a few days ago, the pushoff of that floor [it was also support in mid-November] has likely sealed the deal for the rebound effort - we're clearly seeing higher lows. DEXO still isn't quite over the final hump though. While it's not all that clear on the nearby daily chart, on a weekly chart of this name we're seeing a very healthy, well-paced, bowl-shaped revival unfold. The 100-day moving average line, currently at $1.23, is actually the yes/no mark for this rebound effort from Dex One Corporation. Almost there, so keep it close and hope it makes a well-paced move above it rather than rocket past it in an unsustainable move.
Finally, though Samson Oil & Gas Limited may also be caught between a rock and a hard place, there's no sense in denying that its boundaries are still bearish. The falling resistance line and falling support line for SSN extend all the way back to March, and though we've seen brief glimpses of hope that the falling trading range was going to be bullishly breached, another key resistance always managed to step in and push this independent oil name back into its bearish zone. And as you can see, Samson has fallen back into that zone with a vengeance as of Monday, thanks to some persistent resistance at its 20-day moving average line.
Point being, while the ebb and flow is apt to continue for SSN, the boundaries of the bearish trading range have been staunch, and are likely to keep this chart held in check for better and for worse.
Yes, eventually Samson Oil & Gas Limited will break out of this rut, and when it does the move should be explosive. In that sense, SSN was like Cardium Therapeutics in that it was kind enough to point out where those make or break lines are. In the meantime though, there's no reason to try and squeeze blood from a turnip.
Matthew Briar is a paid contributor of the SmallCap Network. Matthew Briar's personal holdings should be disclosed above. You can also view SmallCap Network's complete disclaimer and disclosure.
