Sirona Biochem (SBM)

Sirona Biochem, trading in Canada under ticker SBM, is worth a look for technical reasons illustrated in the charts below. 

First the long-term view, in which we see a 2-year downtrend apparently broken (green line) and the current price challenging a level it has not closed above since September 2011 ($0.15) :

Here's a closer look:

Along with the technical picture, some will find this news compelling: Sirona Biochem Signs LOI with China’s #1 Ranked Anti-Diabetic Company, Wanbang Pharma 

To us it seems a good speculation, holding above $0.09 for the time being.  We'd be especially bullish on closes above $0.15 

We hold shares at a cost of $0.11, a position not previously diarized in this blog.


Turning to the overall market, almost two weeks ago, with the DJIA at 15423, we wrote: "Our immediate outlook is bearish [...] On a big plunge there'd be support around 14900."

Wednesday the DJIA closed at 14896, and Thursday there was a weak bounce to 14963.  There "should" be a bigger bounce, but if not then the market could easily drop another 200-400 points before catching a solid bid. 

This article might interest some readers: Dangerous divergences unseen since 2007








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