Don't Overlook Ziopharm Oncology

 | Mar 20, 2017 | 11:23 AM EDT
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Ziopharm Oncology (ZIOP) is a low-priced stock that could get passed over for bigger and better-known names in the industry, but the charts and indicators are intriguing enough to write about it.

This stock could rally 50% or more in the months ahead, which is not a bad rate of return.

In this daily bar chart of ZIOP, above, we can see prices have been bottoming since July. You should be able to see the higher lows from July to October to January and February. You should also be able to see lower highs from November to February and March. The chart pattern since November could be considered a triangle and it is close to its apex and a potential upside breakout. ZIOP is above it rising 50-day moving average line and the still-declining 200-day moving average. The On-Balance-Volume (OBV) line has shown some improvement from a January low. The MACD oscillator is above the zero line and could soon cross to a fresh go-long signal.

In this Point and Figure chart of ZIOP, above, we can see a bullish-looking pattern since early 2016. A move above $7 on the daily bar chart and a trade at $7.20 on this Point and Figure chart should be good enough to break a longer-term downtrend and generate a breakout with an upside move to the $10 area.

Bottom line: Traders could go long ZIOP above $7 and add above $7.20. After going long above $7, a sell-stop below $6 should work. Our initial upside price objective is $10.

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volatility is quite low here, and we could see some downsides here in the short term. ...



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