Salix pharmaceuticals Ltd., SLXP:
1. Continued hourly and especially a daily close today (Mon., Dec. 1) above $101.80 (and worst-case, $101.65) place Salix Pharmaceuticals in a ‘Buy‘ position for continued advance and test/attempt at $105.20, then $107.00, or higher.
2. Partial long position exit should be taken at/near $103.60, then at/near $105.20. Final long position exit should be taken at/near $107.00.
3. Once long, a protective sell stop should be placed at $101.30. This stop will be moved higher as the market continues to confirm.
Salix Pharmaceuticals Ltd., SLXP:
1. Today (Mon., Dec. 1) Salix Pharmaceuticals closed the session at $101.59, just slightly below the lower end of the $101.65 ‘Buy‘ position noted in today’s earlier update.
2. Therefore, tomorrow’s (Tues., Dec. 2) session remains important and may prompt a new long entry. Will update.
Salix pharmaceuticals SLXP:
1. Although no official long trade entry occurred, Salix pharmaceuticals completed the forecast advance from $101.65 buying territory to the forecast $105.20 (or higher) upside target. Today’s session high has been $107.96, so far. Will message any further entry or indication in Salix pharmaceuticals.