Can anyone give me a technical assessment of what this stock did
over the last 5 weeks?
Was trading around $3.75 in early June (avg daily volume less
than 100,000), then, on June 6th rocketed as high as $7.58 before
closing the day at $6.85 on 30,000,000 shares traded. Yes, 30
million shares. Been watching it consolidate and drift lower
ever since on much lighter volume, hoping for a setup that has
never come to fruition.
Continues to show no signs of life, and today it pierced the 50
sma at $3.95 (nearly a complete round trip). Less than 500,000
shares traded.
Is this stock likely to explode higher on monster volume one day
soon, or is it a sucker play? Not in it, but fascinated by
the way it has been trading. Can't believe someone made that
large a bet all for nought.
RichieD - there's not a lot to say bout that one really, I
didn't investigate but I assume that was a huge move on news. This
is a bio/pharm, for the small ones it's all about news and what's
in the pipeline etc, you have to really research all that.
short term it needs to hold in here near the 50 day MA
otherwise could crater
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VBLT - Matt or anyone else
Posted by RichieD on 13th of Jul 2016 at 03:43 pm
Can anyone give me a technical assessment of what this stock did over the last 5 weeks?
Was trading around $3.75 in early June (avg daily volume less than 100,000), then, on June 6th rocketed as high as $7.58 before closing the day at $6.85 on 30,000,000 shares traded. Yes, 30 million shares. Been watching it consolidate and drift lower ever since on much lighter volume, hoping for a setup that has never come to fruition.
Continues to show no signs of life, and today it pierced the 50 sma at $3.95 (nearly a complete round trip). Less than 500,000 shares traded.
Is this stock likely to explode higher on monster volume one day soon, or is it a sucker play? Not in it, but fascinated by the way it has been trading. Can't believe someone made that large a bet all for nought.
RichieD - there's not a
Posted by matt on 13th of Jul 2016 at 03:49 pm
RichieD - there's not a lot to say bout that one really, I didn't investigate but I assume that was a huge move on news. This is a bio/pharm, for the small ones it's all about news and what's in the pipeline etc, you have to really research all that. short term it needs to hold in here near the 50 day MA otherwise could crater