Dendreon Corporation (DNDN) and Keryx Biopharmaceuticals (KERX), Two Biotech Stocks at Support

Bridgewater, MA -- (SBWIRE) -- 03/19/2013 -- Bridgewater, MA - The StockConsultant stock screener has found biotech stocks Dendreon Corporation (NASDAQ:DNDN) and Keryx Biopharmaceuticals (NASDAQ:KERX) at strong support with good upside trade quality and price targets.

Dendreon Corporation (NASDAQ:DNDN) founded in 1992 and headquartered in Seattle, WA is a biotechnology company which specializes in discovery, development and commercialization of novel pharmaceutical products for the potential treatment of a variety of cancers. DNDN over the past two months has pulled back to where it is today at strong triple support centered around the 5.39 price level. The stock is currently awaiting some bullish accumulation and has good upside trade quality with a price target T1 of 7.06.

DNDN abbreviated support and resistance areas:

CURRENT PRICE 5.35, at support, 5.39 ± 0.26, type triple+, strength 10

RESISTANCE ABOVE +12.7% at 6.03 ± 0.29, type triple, strength 10

+25.6% at 6.72 ± 0.32, type double, strength 10

SUPPORT BELOW -11% at 4.76 ± 0.23, type triple+, strength 10

-20% at 4.28 ± 0.21, type double, strength 6

DNDN upside trade details:

TRADE QUALITY 70%, Good

TARGET 1 Price: 7.06 Profit: 32% , for a typical rally.

Stop Limit/Trailing Stop Limit: 5.05 Loss: 5.6%

Profit/Loss Ratio: 5.7 : 1 - Excellent

Full DNDN stock report with charts and analysis

Keryx Biopharmaceuticals (NASDAQ:KERX) founded in 1998 and headquartered in New York, NY is a biopharmaceutical company that develops pharmaceutical products for the treatment of cancer and renal disease. KERX stock price over the past two months has been consolidating between 6.5 and 7.5. The stock over the past two weeks has made several attempts to break above the current resistance area centered at 7.14 and has excellent trade quality and price target T1 of 9.06.

KERX abbreviated support and resistance areas:

CURRENT PRICE 7.39, at resistance or support, 7.14 ± 0.35, type double, strength 10

RESISTANCE ABOVE +14.3% at 8.45 ± 0.41, type single, strength 8

SUPPORT BELOW -11% at 6.58 ± 0.32, type single, strength 3

-59.1% at 3.02 ± 0.15, type triple, strength 8

KERX upside trade details:

TRADE QUALITY 95%, Excellent

TARGET 1 Price: 9.06 Profit: 22.6% , for a typical rally.

Stop Limit/Trailing Stop Limit: 6.95 Loss: 6%

Profit/Loss Ratio: 3.8 : 1 - Excellent

Full KERX stock report with charts and analysis

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