Got my first hit at .70, next floor down .65 !
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OMG hit just .69
Don't bounce yet! Hit me at 68c...darn it.
Bid's now at 70c....
Edit: ..make that 72c. Bouncing from here I would say, with a new floor at 70c.
Well the Top biotech compnay for 2014, is being hammered, completely hammered. And I fail to see the logic in the price movement. Its beggining to smell of manipulation.
12% gain in a matter of minutes on their last news item, followed by a 30% drop on low volumes..
If you extend your chart a bit further (2 years) it doesn't really look like there is any kind of "gap" between 70 and 50.
70 looked like strong resistance a year and a bit ago. The amateur traders gap (if you want to call it a gap, technically the big white stick from 70 to 170 isn't a gap) was surely that big rise upwards. Fear of missing out.
Is 70 the bottom? Remains to be seen, will watch with great interest.
70 was, after all, strong ass resistance so will it now be strong ass support?
I don't think so. I think the easy and erratic gains of 2013 - throw money at stuff it'll likely go up, is now long behind us.
Winters coming - People are settling in to companies that are making 'actual' gains. PEB has 'potential', but has not got very far since last year. Headlines alone aint gunna support a high SP in this environment any-more.
So for those of us without TA nous, where do current support and resistance sit. Do we go all the way back to mid last year at .69, .60ish and .50ish? Or do intra-day play a deeper role?
Any response appreciated :)
Well i see buyers, not sellers today, and at prices higher than that sudden drop f 7c
Since the company cannot sell its product a market cap sub $100m seems reasonable ($0.30)