volume for today 2,634,205. For sure some type of deal made to keep the price down. See if the price can get back to 15 next week, should make a little from the 17.5 Calls at that price. INO & NNVC were also added INO 7m share up 4%. NNVC 2.9m down 3% on the day.
If somebody can answer this,about the big volume I appreciate it.
What kind of volume is this? who is doing the buying? why didn't they buy at the 13.83 bottom? Is anybody selling? who is buying and who is selling? The end of day saw selling. the technical chart shows selling pressure stronger than buying pressure. The targets at the 50 ma are in play. despite what some here are saying. price did not go soaring to 17 today. was it supposed to ? or later next week ? the chart is in an intermediate term cycle,bearish downwave pullback mode.
The zone around 14.70 is a topping zone for the correction of the last cycle wave, that went from 19 down to 10...the bounce correction zone is ....13.50-15.25 area.and the 14.70 price point is one of the key prices in this zone. as is 14.20 (and anywhere in between)
IF price has hit a bounce resistance completion zone at 15 area...that portends another downwave to retest the low targets. These targets begin at 14.00 (13.83 is just the beginning of the target zone.) Stronger are the targets marked by the 50 ma and the bollinger bottom band and the 200 ma.
Below the 200 ma, is getting into bearish energy...but negative news could send it there.
and positive news would send GALT soaring up in the next wave cycle.... especially if it was Timed to the 50 ma around 12.50 area.
Those who know how to count Elliott waves will have an easier time following this description of price action.
Technically, the greater wave cycle, from 19 down to 10 as a pullback could be seen as a possible wave A, and B from 10 back up to 16 , of an ABC correction pattern. If that's the case, the retest of 10 would be in play. BUT , if that's not the correct wave pattern, and instead we have a Completed pullback at 10,then this rally that went from 10 to 16 would be called a Wave 1 of 5 going up. and the pullback ongoing now, as a wave 2, has targets at the 50 ma area. including targets lower.
But lets imagine that the bullish fundamental developments and the uplisting and whatever else is bullish on a fundamental level.... means we could see this pullback as a good time to buy at the final support bottom . wherever that ends up being, in the coming days or weeks.
On a technical Elliott wave measurement, it means we would have seen Wave 1 completed at 16,wave 2 pullback is ongoing now, and the next rally would be a great wave 3 to target 19 and higher targets after that.
IF the price action today and recent days appears to be controlled by the MM's as described by others , so that big buyers can buy ....I would offer this idea... that IF I was a market maker wanting to see price rally to great highs, or wanting to see a successful bullish rally, and if I was a hedge fund manager, I would Want to see the MM's continue to slide price down to reach the 50 ma area....and then see the big buyers jump in There. That would be the correct technical place in the chart to propel the next big rally ,which would be a wave 3.
IF the technical chart means anything , and Elliott wave can see the chart pattern, then the zone for pullback as a target bottom in this pullback, should not be 14 or even 13.50
its the left shoulder zone at 13-12.70 area, the 50 MA around 12.50, heading higher, and/or the 200 MA at 12.
and today's candlestick is a Gravestone Doji. It's bearish. A few weeks ago,I was suggesting we would see a topping zone between 13.30 and 15.25 area, followed by a pullback. I was ridiculed by a few. Now, I stand correct, so far, and I continue to expect the ongoing pullback to target the 50 ma area.
I could be proven wrong if the price action does something else. Good investing to All.
News 
Market Data 
Discover 
