DARA BioSciences - Reversal Candidate

[HarryAloof]

DARA Biosciences has been beat down from over $4 earlier this year to trading at just $1.30 now. After recently completing a secondary offering to raise money and having their KRN5500 drug granted orphan status by the FDA last month; it's time to have a look if you haven't already.

Taking a look at the DARA stock chart from the technical standpoint, the money raise helped form a base price just above $1; which has started to show signs of reversing the long-term down trend with higher lows and increasing volume. DARA must now see its price break above the 50 day moving average and the horizontal resistance at 1.34 as formed at recent highs. If this happens, DARA, which has seen large one day gains in the past, could run again.

[BlaineTarr]

Finally on the move, closed up at 1.48 in first target range. Now DARA needs follow through over 1.54. Targets in chart above still stand.