Friday, August 26, 2005

Loving Goats; GTCB

GTCB is the only stock wich I'm holding on both fundamental and technical reasons. (even more on fundamental)

Some brief info on GTCB:
"GTC Biotherapeutics, Inc. (GTC) engages in the development and production, of human therapeutic proteins. It focuses on recombinant forms of proteins derived from human blood plasma by the use of transgenic technology. The company’s primary product candidate, ATryn®, a recombinant form of human antithrombin, is undergoing review for market authorization in Europe. GTC also develops rhA, a recombinant human albumin; rhAAT, a recombinant form of human alpha-1 antitrypsin; a malaria vaccine; and an agonistic antibody. The company is headquartered in Framingham, Massachusetts."

The approval for ATryn isn't just the approval of a product, but the approval of a whole new technique. When approval comes it will be major news with quite some impact.
Last April the EMEA didn't approve ATryn, but instead asked some more questions about the technique. The answers were filed in July, and approval is expected somewhere in the coming months. (my guess is late september/start October)

Let's look at the chart:

I already traded this baby before; from 1,18 to 1,39 and from 1,45 to 1,78.
Right now I'm back in at 1,92 (not a really good entry) as I have confidence from the fundamentals and from the chart. And of course, I wouldn't want to miss the big action when approval comes!

In the chart we can see the nice big white candle with volume well above average, and a consolidation phase with declining volume. This is bullish and that's why I don't want to risk to miss the action.

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