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Actionable news in ZIOP: ZIOPHARM Oncology Inc,

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  • This post is for all those who do not believe in stock price technical analysis and especially Point and Figure charting methodology:

    In my last week's blog post ZIOP: Breakout Imminent, I had pointed out that ZIOP's stock chart looked very bullish and predicted that based on its PnF chart, the stock was poised to break its Bearish Resistance Line (BRL). I went on to explain that breaking the BRL was a Big Deal: "I am so confident in my prediction of ZIOP's upcoming move that I am willing to bet my reputation on it!"

    Well, last Monday, October 26th, when I published my post here after the close of the US stock markets, ZIOP closed the trading session at $, 7 trading sessions later, ZIOP closed at $13.36, a gain of almost 20% in a little more than a week...Even the most diehard skeptic will have to admit that ZIOP's move is pretty impressive...Of course, with options, the percentage move is off the charts... :)

    Clearly ZIOP's PnF chart telegraphed the stock's move in advance and those who understand and appreciate technical signals and were nimble enough to take advantage of the signal even if they knew nothing about ZIOP's amazing fundamentals and bought the stock, should have done pretty well...

    As soon as ZIOP broke its BRL, I posted this very important technical confirmation on ZIOP's Investor Village board and said the following:

    "As they say in football, we finally have the ball and we will be playing offense...

    By printing $12.00 ZIOP finally broke through its Bearish Resistance Line...This is a BIG deal...From here on forward, every pullback should be considered a buying opportunity..."

    When one's favorite football team, no matter how talented, gets possession of the ball...

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