Sequenom is rising like a Phoenix

• Posted by Greg Harmon
• on April 8th, 2015

Sequemon ($SQNM) is a poster child for the dotcom bust. The stock debuted after the February 2000 IPO at 53.25 and rose to over $143 per share the next month, before a full on implosion to under $1 before the end of 2002. It settled in for several years before attempting to rise up after the financial crisis. That attempt failed and it muddled back top the $2 level.

But a funny thing is happening. Its revenue is starting to rise. Its products are making news, and the stock is starting to move back higher. The basing action that took place over the first half of 2014 has given way to a higher base and now a run at resistance. The price is now running towards resistance at 4.05 using rising support over the last 4 months to get there.

A move over 4.05 would carry a target of 5.35. This is just about at the January 2013 high. If you ride the stock from 4.05 to 5.35 and that is all there is that is still a big win. Over 30%. But this stock also has over 17% short interest. Can you say squeeze? Perhaps it is time to stick this one on your radar.

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