VTGN has been in the IBD powerzone for more than two weeks. The William O'Neill of Investors Business Daily investing (swing trading-momentum trading) formula is to buy when stocks cross the 70% RSI. RSI is now 81-84% depending on who's chart using. Stocks can stay in the powerzone for months. One month is a long time even for big time revenue stocks like Boeing. Latest BA powerzoned was 1-30 to 3-1-19. $359 to $446 great trade. But Boeing NEVER has to raise cash. IBD powerzone investing is only for big time revenue SP 500 stocks. I am afraid to chase here even though it looks like some want in heavily by the continued heavy buying. Will Vistagen be tempted to raise cash here for security in case the results are not stellar or good news is shorted down? It is just a phase two after all. A win in Phase 2 means need to raise cash for Phase 3. Maybe some big buyers know something I don't but I do not buy bluffs or powerzone stocks in Biotech. I have no idea but once the ten day above $1 is satisfied in two more days above $1 I would think that Vistagen would and should raise cash to comply with the second NASDAQ deficiency notice. That is having more cash. $2.5 million shareholder equity. They fell short as of the last reporting date. I except them to raise cash or partner for a HUGE deal very soon. I welcome both but I am raising cash to buy more AFTER the cash raise or be satisfied with my current position on a partnership deal. Chasing never has served me well in non revenue Biotech. I believe in the powerzone but this one is long in the tooth. I do not have the info some big tutes might have about a pending deal but I will not be bluffed. In other words my fear of getting F'd by an equity raise outweigh my fears of missing out on a huge spike by the partnerships that will surely come at some point. One thing I can almost guarantee it will be more than two trading days so they can but the first NASDAQ deficiency to bed. Last raise was in Feb 2019 for $10 million at $1 a share plus warrants at $1.25 from memory- not sure warrant price accurate check for onesself. Stock only fell to $1.06 from $1.42. Not bad. The stupid move was when it fell after the NIH study failed. I expected it to fail but it was a not indicative of anything except that NIH are inept buffoons who draw a salary on the Government tits. Vistagen is an exciting and very promising possible parabolic biotech gainer. But I am handicapping a equity raise before read outs on Elevate Trial or a partnership before the same event. Not to do so would be suicide to the rest of the pipeline if Elevate is less than stellar or is shorted down on good news. I like to buy big time revenue stocks in the powerzone and prerevenue biotech when everyone else is selling. This is my #2 stock to accumulate. But I want to try to buy smart over many years of the development process.
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