Technical Trading Alert for Echo Therapeutics (OTC:ECTE.OB)

MivInvestments Inc. has initiated an independent bullish technical trading alert for 11/20/09 on Echo Therapeutics, Inc. (OTC:ECTE.OB). Shares of the company finished the day at $1.35, up 8.15% from the opening bell on heavy buying pressure. The excitement was due to the announcement on positive results of a clinical study testing symphony(TM) tCGM System in Patients with Type 1 and Type 2 Diabetes. Despite the fact that there has been a recent common shares financing scheduled, companies usually take their time and let the price consolidate before engaging in these activities, thus a short-term buy could be a smart investment. Towards the end of this alert a technical analysis will also be issued.

According to the ADA, the cost of diabetes care in the United States in 2007 was more than $174 billion, including $116 billion in excess medical expenditures attributed to diabetes and $58 billion in reduced national productivity. The ADA estimates that people with diabetes, on average, have medical expenditures that are approximately 2.3 times higher than the expenditures would be in the absence of diabetes and that approximately $1 in $10 health care dollars is attributed to diabetes. A significant portion of overall diabetes care costs, approximately $7 billion according to industry sources, is attributable to costs associated with monitoring blood glucose levels, and that market segment is projected to grow substantially by 2010 as patients and their physicians seek ways to manage glucose levels more effectively.

About Echo Therapeutics, Inc.

Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in acute and critical care. Echo’s non-invasive Symphony tCGM System consists of its Prelude SkinPrep System, which incorporates patented and leading-edge skin ablation control technology, and wireless transmission and proprietary transdermal biosensor technologies. Echo’s Symphony tCGM System is designed to provide both diabetes and hospital patients with a reliable, needle-free, easy-to-use, affordable and comfortable-to-wear continuous glucose monitoring device. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.

The full special report on the company appears today at http://www.stockshaven.com/technical-trading-alert-for-echo-therapeutics-otcecte-ob/

Disclosure: Long ECTE

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MiV Investments Inc.

Contact via E-mail