Xoma Corporation (NASDAQ:XOMA) Crosses resistance

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Dallas, Texas 07/15/2013 (Financialstrend) –A Daily big white candle has formed. This is a bullish candle as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.

For the past 10 Daily candlestick bars as of 12/07/2013, there are 7 white candles versus 3 black candles with a net of 4 white candles.

For the past 50 Daily candlestick bars as of 12/07/2013, there are 22 white candles versus 27 black candles with a net of 5 black candles.

The MACD is currently BULLISH. The MACD is currently above the signal line. The MACD crossed above the signal line 6 period(s) ago.  Since the MACD crossed the MACD moving average, Xoma Ltd’s price has increased 17.36%, and has fluctuate from a high of 4.550 to a low of 3.630

The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.

Currently, the Momentum Oscillator is in an overbought condition.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction.

Because this is a trend following system, it should not use to initiate any trades right now. There were no SAR signals generated today. The last SAR signal was a Buy 8 period(s) ago.

The close is currently

ABOVE its 200 daily moving average

ABOVE its 50 daily moving average

ABOVE its 20 daily moving average

The current market condition for Xoma Ltd is Very Bullish

Xoma Corporation (NASDAQ:XOMA) broke above the upside resistance level of 4.13 today.  This is a bullish sign.  This previous resistance level of 4.13 may now provide downside support.  Volume on the day of the breakout was quite heavy–147% above average.  This makes the breakout even more significant the most recently confirmed downside support level for Xoma Ltd is around 3.19.  Expect prices to have some difficulty falling below this level.  A break below this level (particularly on heavy volume) would be a bearish sign.

On 07/12/2013, Xoma Ltd closed above the upper Bollinger Band by 26.5%.  Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that Xoma Ltd is in to continue.  Bollinger Bands are 39.89% wider than normal.  The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

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