The Volcano is About to Erupt
To be honest, I tried reading what the company does and I couldn’t even understand the description. Nonetheless, if the planned conference call on November 6 goes well look to pick up some shares on the rebound. Look at the chart below (it updates automatically):
Volcano (VOLC) is sitting on a very strong support right now. It has been tested 5 prior times and held amazingly through all of them. Any bounce off that support could give a quick price target of $15.50, with $17 and $20 targets right behind that.
It is always hard to really determine how medical stocks will react during a bad economy. One of the main reason being that many don’t really know what the company does. It is also a given that no matter the economy people will always need medicine, but it is a matter of how important the certain product or service is.
During their last earnings report, the company predicted a strong conclusion to the year and expected their market share to grow in Japan. Is that still case, and will they reiterate that through their conference call?
If all goes well, then look to make a quick buck in a market where it could be somewhat hard to do that.
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