Geron Corp. Shares Display Perfect Head-and-Shoulders Pattern
What a site, Geron Corp. (NASDAQ:GERN) shares are displaying a beautiful head-and-shoulders pattern. From $5 a share in May to $9 in July then back down to $5 level today. Stem Cells were all the rage a few months ago, now they've just lost steam.
Geron is the company that made news with its stem cell therapy showing benefits in treating spine injuries in rodents' cervical region.
Geron's experimental therapy, GRNOPC1 had earlier run into safety problems as rodents being treated for spinal cord injury in the thoracic region developed a kind of tumor in the animal studies, which prompted the U.S. health regulator to put an early-stage trial on hold.
Data from the current animal study could be used to release the clinical hold and testing the therapy in patients with spinal injuries in the cervical region, the Food and Drug Administration had said in October.
Last month, the stem cell research company said GRNOPC1, reduced tissue damage and improved recovery of nerve function in the proof-of-concept study.
Seven days after injury, rodents treated with GRNOPC1 did not have a cavity in the spinal cord, had more preserved nerve units, and more neurons with their protective covering myelin, Geron said.
Back to the head-and-shoulders pattern, here's a larger view of the chart thanks to finviz.com. So could the stock be a bottom? You make the call.
Disclaimer: No positions in GERN.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Janet Yellen On The Fed Buying Stocks: "Maybe In The Future, Down The Line..." | ZeroHedge
- The Old Wall Street Trader Is Dead, Algo’s Now Rule the Day | Financial Sense
- Hillary Campaign In "Full Panic Mode" Over Black Voter Turnout In Florida | ZeroHedge
- Gundlach: "The Market Will Keep Pushing Deutsche Bank Lower Until It Is Bailed Out" | ZeroHedge
- Pay Attention to How Oil Reacts the Day After OPEC News (Video) | ZeroHedge
- Real Estate Bubbles: Vancouver, London, Stockholm, Sydney, Munich, and Hong Kong Top List | Financial Sense
- ECB "Refused To Answer Questions" – “Systemic Threat” Of Deutsche Is “Not ECB Fault” | ZeroHedge
The most relevant financial news and articles from the Internets
- Many companies are trying to profit from connected cars | Business Insider
- A $69 million superyacht with its own library and Jacuzzi... | Business Insider
- The $6 trillion opportunity in the IoT | Business Insider
- THE LIVE STREAMING VIDEO... | Business Insider
- Italian Anti-Mafia police recovered two stolen... | Business Insider
- Prepaid-card company Green Dot to launch credit card | Business Insider
- The recent 'Fast and Furious' director is making a Hot Wheels movie | Business Insider