Anyone's guess...
There are 'trend lines', which tells us how the stock has behaved in the past, within the realities of the overall market and company news events, including earnings. The 50 day moving average is a pretty consistent 'no fly (below) zone' since it came off $2.50.... but if the sellers are motivated to take it down (if they find little 'buyer support' in the process) then it can and will go down.
ONVO doesn't yet have a majority of their float in institutional hands (hands that are more likely long-term hold minded). So we're a bit exposed to those who like taking stocks that are a bit (or a lot) ahead of themselves from a valuation standpoint - behind the woodshed for a bit of a back-side kicking.
I had trailing limit orders in place that had part of my position sold off earlier in the week, but I've already replaced some of that midday today. Also purchased Feb calls.
If the stock behaves really badly, punching through the 50 DMA (hard) I'll likely have to recollect myself on the other side, but I like what I see in the technology, the management team (and board), and the market opportunity. All this stock price stuff is very real (and at times maddening), but it also needs to be put into context. In the medium to longer term the fundamental lead me to believe ONVO stock will make many investors a great deal of money over the next 12-36 months.
We seem to have bounced off $3.95, but the stock does tend to have a pretty well defined trading pattern throughout the day, which more often then not seeing a last hour firming. It doesn't foretell what tomorrow will bring necessarily, as this entire week has confirmed.
