##{"id":60988,"date":"2012-11-30T10:25:19","date_gmt":"2012-11-29T23:25:19","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2012\/11\/30\/a-double-blessed-buy-for-alchemia\/"},"modified":"2012-11-30T10:25:19","modified_gmt":"2012-11-29T23:25:19","slug":"a-double-blessed-buy-for-alchemia","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2012\/11\/30\/a-double-blessed-buy-for-alchemia\/","title":{"rendered":"A Double Blessed Buy For Alchemia"},"content":{"rendered":"

\n\tThey labeled it a "Double Blessed Buy". We assume this means the positive view is carried both by fundamentals as well as by a favourable<\/span> technical set-up.<\/p>\n

\n\tShares in biotech Alchemia<\/span> ((ACL)) started the calendar year at $0.30 and they rallied to twice the price in the subsequent months, but after that it was all over and the share price has drifted back closer to $0.50. Judging by the price target analysts at RBS<\/span> Morgans<\/span> hold for the stock ($0.61) it is probably fair to assume all the available value had been priced in, for now, and Mr Market was simply not prepared to start pricing in some of the unknown blue sky potential.<\/p>\n

\n\tRBS<\/span> Morgan analysts have caught up with latest developments, noting the sideways drift has now created a favourable<\/span> set-up for a rally back to their price target (and price levels seen earlier this year).<\/p>\n

\n\tReport the analysts: "Thursday's price action retraced close to its support of $0.41 and completed a strong intra-day reversal signal, showing that there is a strong buying support around that level. We believe the price will bounce from here and rally to $0.61."<\/p>\n

\n\tRBS Morgans rates the stock a Buy with a $0.61 price target. In technical parlance, there should be resistance at $0.55, $0.58 and $0.61 respectively.<\/p>\n

\n\t $\"\"$ <\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

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