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Is Silence Golden for This Small-Cap Biotech Stock?

After garnering a new fundamental supporter let's if the charts of Silence Therapeutics are worth shouting about.
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Silence Therapeutics plc  (SLN) was rated a new "outperform" (buy) at BMO Wednesday with a $67 price target. The company does cutting-edge work on medicines related to "RNA interference to inhibit the expression of specific target genes thought to play a role in the pathology of diseases.''

SLN has established partnerships with pharmaceutical companies, such as AstraZeneca (AZN) , Mallinckrodt Pharmaceuticals, and others.

Let's check out the charts and see.

In this daily bar chart of SLN, below, I can see that prices have just rallied to a new 52-week high. Prices trade above the rising 50-day moving average line and above the bullish 200-day moving average line. Trading volume is light and uneven but the On-Balance-Volume (OBV) line has turned upwards.

The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and poised for a fresh buy signal.  

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In this weekly Japanese candlestick chart of SLN, below, I see a bullish setup. Prices are in an uptrend and trade above the rising 40-week moving average line. The weekly OBV line has posted a strong advance the past three months. The MACD oscillator is in a bullish move above the zero line. 

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In this daily Point and Figure chart of SLN, below, I can see a price target in the $39 area. 

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In this second Point and Figure chart of SLN, below, I used weekly price data with a five box reversal filter and got a $25 price target so far.  

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Bottom line strategy: SLN is not particularly active. Trading volume is on the thin side so traders need to keep that in mind when entering orders. Wait for a pullback to $20. Risk to $15.

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