|BioCurex Poised for Positive Future Based on Results (OTC:BOCX)|
|By Michael Vlaicu|
|Tuesday, 27 October 2009 06:42|
BioCurex, Inc. (OTC:BOCX) is a biotechnology company developing products for cancerdiagnosis, imaging, and therapy that target a global oncology market forecast to reach over $50 billion by 2009.The Company uses a novel, patented technology based on the RECAF™ cancer marker, discovered by Dr. Ricardo Moro-Vidal, BioCurex’s chief executive officer (CEO), president, and founder. RECAF™ is a molecule found on malignant† cells but absent from most normal or benign cells. BioCurex believes that the detection of this molecule in tissue or serum samples is the foundation for new cancer diagnostic tests and imaging techniques. The RECAF™ marker has been found on every cancer tissue that BioCurex has studied to date, including on many common, severe cancers: breast, lung, gastric, prostate, and leukemia.
This characteristic indicates that RECAF™ is capable of detecting more than one type of cancer, which is a limitation of many currently available cancer markers. The Company’s RECAF™ technology is reported to have high levels of clinical sensitivity and specificity (measures of cancer marker accuracy), successfully detecting over 90% of cancer in blood and tissue samples. A serum-based assay using RECAF™ recently identified twice as many prostate cancers as the current standard for prostate cancer detection, the prostate specific antigen (PSA) test.
Sometimes one gets a second chance to buy-in at the beginning of a Bullish reversal. BOCX is giving buyers just this chance. This past month saw a significant (over 500%) gain in share price which expanded the price channel that had been in control since the beginning of this year. Typically, one doubles the height of the previous channel and this indicates the new channel (Blue lines on the chart) reaches up to .32 cents at the top trend-line. Interestingly, on Friday (October 23), the price actually opened on the new mid-line (dashed Blue line on the chart) and gave further proof the expanded channel is now in control. A quick Fibonacci Analysis of the September gain (in Pink on the chart) reveals some very interesting details. The most interesting is that the price can easily reach the top of the channel that sits just below the dependable 123.6% retracement level. Also, the price looks to have consolidated and has breached the 38.2% retracement area turning it into a level of support at .14 cents. That’s exactly where the stock price closed on Friday giving buyers an opportunity. There are numerous bullish indicators to support the probability this stock will continue to climb up the channel. Just this week, the classic Bullish signal of the daily 100 SMA (Orange line on the chart) crossing up and over the daily 200 SMA (Yellow line on the chart) occurred. Also, a type of “ladder bottom” candlestick pattern formed (Red circle) signaling a Bullish reversal. This, too, is a classic signal as the shorts close out their positions and take profits. The sellers appear to be loosing control of the consistent downtrend they controlled after the September highs. The big Green candle coming out of the Red circle indicates buyers taking control. Friday, appears to be a last ditch effort by the sellers to push the price down and close their short positions since they realize 38.2% is now support. This could be the second chance to buy before the price moves back to the top of the price channel and beyond. A simple 100% retracement would represent over a 100% gain from the current price level. It’s also good to keep in the back of your mind that last year this stock was trading above .70 cents and that would be close to the same percentage gain the stock price experienced just last month.
Disclosure: Long BOCXBy reading MiV Investments Inc. company profiles you agree to the disclaimer, and thereby will not hold Michael Vlaicu accountable for any transactions or decisions you make. It is up to you to do your own due dilligence.