BNVI - Bionovo, Inc is starting to trend back up after a nasty gap down in late March and may have finally found some support as traders have started showing signs of interest with some buying pressure. Support appears to have been found in the .55-.60 range after trading sideways in this area since mid-March. Last Wednesday, the stock started showing signs of life as buyers began to take positions as hopeful bottom feeders. So far they have been rewarded as the stocks is continuing to show signs of a potential upward trend in the coming days, at least to the area of the mid-March gap down around .90. Speculative players may want to take positions and ride the potential bounce to test the resistance area.
BNVI has posted a modest 6% gain in today's session. The stock has a 52 week range of .52 - 2.55 and a average daily trading volume of 477,700. Bionovo, Inc is pharma company with focus on womens health and cancer treatment.