Dendreon Corp (DNDN) update

We've profiled this wonderful pattern several times, what O'Neil calls a base on top of a base. It is very bullish.

Previously we looked for entry in the earlier double bottom with handle.

Coincidentally the second pattern is also a double bottom with handle. There are 2 concerns we have, though. The first is that there is no accumulation in this latest formation:  not one day of gains on above average volume. The other is that until today the handle wedged upward. You want to see the lows of the handle edge down to shake out weak holders.

With this afternoon's move you're getting that. We'd keep DNDN on the long radar should the market stabilize. This could be an interesting and low risk entry to position yourself for a potential break out.