Crytonaylor Apr 19, 11:05 AM

Hi, but if you look at the trade volume , the last time it did this it went from 2.50 -3.50

wannabestocktrader Apr 19, 11:18 AM

3/16 was earnings, just because yesterday had similar volume, doesn't mean it will do the same. 4/17 was FDA approval, which is good, but the chart is pretty bad, lots of bag holders that can dump anytime. Look at $RIGL for example, as it just had FDA approval, spiked huge pre-market then sold off hard, then followed by an offering the next day. Tomorrow is Friday and it may run, but this is by no means a high % play since it's a biotech with news everyone was waiting for.

wannabestocktrader Apr 19, 11:21 AM

If not for tomorrow being Friday, I'd actually be looking to go short on this sometime soon after seeing what it does, as the prospects of it running a lot higher are pretty low. It has a decent float and short interest, and only like 75k shares in IB atm, but there's always more money to be made on the short side on plays like this, imo.

Molonelabe Apr 19, 1:42 PM

Hello, the volume (753,089k) is very week to have a breakout, there is a lot of overhead resistance on old news from two days a got the price might already be locked in. There is a high short interest on this but the float is not low enough to really have it pushed up. Sorry, I don't see it doing much once it reached the 3.75-3.80 if it can get that high on this low of volume.

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