Avigen (AVGN)

Company. "Avigen is a leader in the development of gene therapy products derived from adeno-associated virus ("AAV") for the treatment of inherited and acquired diseases." (company website)

AVGN stock chart
gain Bottom line
14.5%

Buy. I bought Avigen after it had reached a new high at $5.85 and then pulled back briefly to $5. Although the ADX line was falling, the 50-day moving average had just crossed to the upside of the 200-day moving average, which usually stimulates movement. And it did.

Sell. AVGN climbed to a new high of $6.45, but seemed to stall out. When it opened higher today but began to drift downward, I decided to take the profits.

The chart still looks strong, and I will not be surprised if AVGN climbs again once the market catches its breath a bit after reaching new highs yesterday.