Rigel Pharmaceuticals Inc (RIGL)

[Citrati]

Happy to share ideas..What I would really like on this board is someone with science/medical expertise to help evaluate the science. Ok, the chart.
http://stockcharts.com/h-sc/ui?s=RIGL&p=D&yr=0&mn=2&dy=0&id=p78635613776
From the ST chart we get $5 as resistance and that coincides with LT, which we bounced off $5 LT resistance. $4.52 was our last two days closes and that is a ST potential top. Who was buying starting the 4th which is day after conference ended. Had to be big money. 12 million shares in 4 days when usual volume would have been around 4 million. So between smaller Q loss and conference big money created net inflow. Since the float was already around 92% institutions it may well be 95% or so now. We are riding them so risk is one of big money guys dumps, otherwise should be pretty stable. Also the big money has been kicking in around noon so something to watch for. Below 800,000 shares per day and it will be pretty much retail trading. We do need to get back inside the bb so we may test 4.20 or just go sideways with 4.35 as our bottom. Big fish could assault $5 again so need to see if institutions are done for now and volume returns to previous normal.

Future targets we must go to 3 year weekly for S/R lines.
http://stockcharts.com/h-sc/ui?s=RIGL&p=W&b=5&g=0&id=p01510459360

Future....first target is break $5 resistance. second is 200 day and $7 resistance. Any resistance at $6 is psychological line not a chart line. What happens at $8 will tell us if we are going to attack previous highs of $10.60 and $11.44. After that it is bluesky territory (if it happens) and then it will depend on bases and measured move calculations.

Hope that helps. Just a bunch of free opinion so make any trades from your own dd.
And as I said....unless you are one, we need a science guy/gal for analysis. RIGL