XOMA Chart Request

XOMA was mentioned earlier in the month as a potential long trade, it had fallen quite a bit since, but it seems the accumulation I was seeing was real as XOMA has already surpassed the price level when I mentioned it.

 Daily chart of XOMA, so far a solid move on good volume. XOMA in the past has been able to sustain a move for more then a day or two so I'd watch for a close near the top of the range and the higher the volume, the better; this would be a good indication of follow through buying n the days ahead.

 XOMA 60 min is a strong looking chart, for this reason I could see a decent potential for follow through buying.

 The 15 min chart showed a very late day surge in accumulation on Friday, just about at the close.

The 1 min chart is now showing a consolidation in both the price pattern and 3C.

As you can see, XOMA not only walked the upper Bollinger Band, but broke in to the 2nd nd 3rd levels  (green and yellow)-a very strong move. It has since moved off the upper band in a sign of consolidation.

This is a candidate for a trailing stop, depending on your trading style.

This s a 5 min Trend Channel and is a bit tight, but should allow for a consolidation. If you are going to use a trailing stop, any pick up in activity in XOMA may necessitate a wider stop, feel free to check back in with me.