^^ chart had a similar look end of last year before next leg up & is still dancing with that 50 sma which is has been doing from the $2's. Definitely wouldn't mind seeing $8.50 or even lower $9's but don't think it's going to happen at this point - offering was around $11 & phase 3 results coming up.
The shares have well and truly bounced from their recent lows and the prediction of a fall to $8.50 was well short of the mark. Are there any broker reports out there with target prices?
Games are definitely being played with this stock but was a good play before it headed back down so will be looking for another entry on Monday because it has to go back up to offering price at some point! @longtermbull believe i saw something about pt being raised to $18.
Brokers are starting to warm to the stock again and there does appear to be demand from investors - there is a large difference between the target price of $18 and the current price. If they keep delivering on the business front then surely this gap must reduce?
Back in this morning & opted to swing rather than sell b/c not sure it will dip back down to $9's before running...
If I was a gambling man I would suggest the shares are leaving behind previous lows and looking towards new higher territory. I think you are right to buy in now rather than wait for a potential fall which may never arrive.
The momentum is certainly on the upside but as you have done, some traders will be looking to lock in some profits so short term weakness might be on the cards You have called this perfect so far, what are you short to medium term targets to get in and get out?
^^ Have been playing this since right around $3.90's/ $4 & posted it on another forum where Ciao & i were together so know it very well at this point & have been just playing chart (support/resistance) & gut feeling. Pt raised to $18 - phase 3 due i think beginning of next year & offering @ $11 so plenty of time to swing/scalp.
