Technical Outlook: URRE, ANX, IMGG

Stocks headed south from the opening bell today, but have hot the gas within the last hour. It may be time to start putting on a handful of bearish position, or at least get out of some bullish ones. Among the best and most critical we came across today are Imaging3, Inc. (OTC:IMGG), Uranium Resources, Inc. (NASDAQ:URRE), and ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX). Let's take a detailed look at each chart.

It was a great ride while it lasted, but it may be time to start taking full or partial profits on Imaging3, Inc. (OTC:IMGG). The stock appears to have stalled - perhaps only temporarily - at a major resistance line.

Take a look at the blue horizontal line on our chart. Not once has Imaging3 closed above $0.74, and only once has it managed to even trade above that level. Yet, the $0.74 mark has been touched six of the last 21 days by IMGG. Investors are only going to tolerate stagnation for so long before they start shedding the stock.... and we're now at that point.

Now take a closer look at the daily bars from IMGG. For the last three (including today so far), Imaging3 has been held at the very low end of the daily range. It doesn't exactly scream 'buying interest'. We suspect this chart is going to point lower soon, and in a hurry. There's prior support as well as a Fibonacci line (not shown) around the $0.48 level.


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We're hesitant to even bring up ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX), as the trading setup is weak and the potential is small as it stands right now. Given there's a much bigger upside though - even if a long shot - it's at least worth mentioning.

ADVENTRX Pharmaceuticals are still range-bound, as they have been since the beginning of the year. The boundaries are support around $0.12 and resistance around $0.20. With the stock recently kissing the support level and pushing off of it today, odds are good a move back to the $0.20 area is in order. That's trade-worthy, though certainly not exciting.

Bigger picture though, one of these pops from ADVENTRX Pharmaceuticals is eventually going to break through the ceiling and send the stick skyrocketing. Will this be it? Nobody knows, but ANX isn't a bad trade in the meantime... it will at least get you positioned.


We've plotted a daily chart of Uranium Resources, Inc. (NASDAQ:URRE) below, but to do the chart justice, we highly recommend you also take a look at a weekly chart. Only the long-term chart will give you some sense of what's really at stake here.

In the meantime, URRE has pushed of a rising support line, and appears to be en route to at least the $1.70 area where it peaked in June. It might stall there, but we believe the higher-odds move will be a break past that resistance. Why? Because Uranium Resources shares have been working on a breakout effort for quite some time, just biding their time in consolidation mode. This time around, URRE may actually get traction with the effort since the bullish volume is growing, and it's been persistent... something we've not yet seen. 

As with ADVENTRX, the outlook for Uranium Resources, Inc. is a bit conditional. That's the way it has to be though, as we may not have time to post a trading alert when the time comes.

Again, take a look at a long-term, weekly chart of URRE in order to fully appreciate the recovery potential.


If you'd like to know of any changes in our opinion of ANX, IMGG, or URRE (or if we officially recommend them as trades), be sure to sign up for our free newsletter today. It's delivered weekly.