NXXI Chart Discussion
Some of you may or may not know of a small Biotech Company called Nutrition 21 (NXXI), and if you have not this is a good time to take a look at them. The stock itself shot up this week with news that its leading drug has backing evidence to slow HIV.
For the technicals readers, “after Monday’s closing bell said a study showed that daily supplementation with Selenomax, the company’s high selenium yeast product, suppressed progression of the human immunodeficiency virus and improved immune cell CD4 counts in HIV-1 seropositive patients. The study was conducted by researchers at the University of Miami and published in the Jan. 22 issue of the American Medical Association’s Archives of Internal Medicine, the Purchase, N.Y.-based company said. Selenomax will be available at CVS Corp.’s (CVS) pharmacies all over the country and online.”
The stock has retraced its steps back towards $2 a share, and I think the stock is a strong buy in this range. A competitive buy would be around $1.90, but that may be tough to get. A stop at $1.80 is sufficient, so lets say you buy at $1.95, A good target price would be $2.55, giving you $.15 of risk for $.60 of reward, or about 4 to 1 on your money.
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