Navivest Stocks and Options Blog

Shares of Genzyme Surging On Possible Merger Talks

Jul 23, 2010 Company News, Mergers & Acquisition

Shares of biotech company Genzyme (GENZ) are rallying $10.50 to $64.67, on word that the company was approached by Sanofi-Aventis (SNY). Genzyme shares at 1:36 pm, are currently the best performing stock in the S&P 500 index on a percentage basis.

Tags: genzyme, merger, sanofi aventis

The Technical Trader – Genzyme

Mar 21, 2010 Technical Analysis, Trading Idea, Uncategorized

Biotech company Genzyme (GENZ) had the second best performing stock among S&P 500 stocks on Friday (Precision Castparts was the best performer with a $2.44 move to $121.79), climbing $1.98 or 3.45% to $59.39. The shares traded 4.6 million shares, compared to a most recent three-month average of 2.6 million shares.

On January 5, the stock, which had been in a downtrend since October, hit a bottom of $48.18, and started rebounding. This was a very bullish signal, as the stock had long-term support at $48, which was maintained. The stock has tested or fallen to the $48 area four times going back to August and each time, the shares bounced off that area.

Since the January rebound, the stock has had a nice upward formation, culminating in Friday’s decent move.

GENZ is once again butting against resistance, but we would look for short-term buying opportunities. If the shares are moving to the upside, we would enter and look to capture two to three points.

The April 57.50 calls are asking $2.85 and a $1 move to the upside from here on Monday or Tuesday could mean a better than 40% gain.

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Tags: genzyme, Technical Analysis