Elite Pharmaceuticals Inc (ELTP)

[hondobud]

The chart looks like the tip of a spear and the Bollinger bands have contracted to a third of what they were less than 4 weeks ago. Looks like the bias has been building slightly to the upside and the time to a decision from the FDA is growing shorter every day. IMO if it tries to break upwards, whether or not it is sustained break above .36 and above low .40's depends on the forces willing to continue their price suppression game. But a break upwards will unleash ADF spec money waiting to jump in. It's all very exciting situation short term here.
If it breaks down again, there are plenty of investors willing to support .30 / .31 PPS, so not much downside risk here, IMO.