July 1, 2008
APPX - Nasdaq. APP Pharmaceuticals, Inc. has formed a Darvas box at new yearly high. On-Balance Volume (OBV) has been rising since the beginning of the year. This suggests the stock is being accumulated. A breakout of the top of the box ($17.00) would signal an entry into the stock. When trading the Darvas Method, a stoploss should be automatically placed just under the bottom of the box, in this case, a tick or two under $15.50 to protect the position.
One response to "APPX - Darvas Box"
Nice work on APPX, Kamil! Buyout offer@$23 for over 35% gain over $17 entry!
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