senrex, thanks a lot. Technicals? for a low volume biotech?
Seriously?
Just kidding. I dont have anything to contribute shorter term -- believe we are nicely basing, tho might get hit again. Bollinger Bands coming together nicely now, daily and weekly, so traders might start to watch this stock soon.
Longer term, the only thing that will recapture the $2.50-plus ground, is some serious news. Still holding my breath.
For what it is worth, the weekly and monthly show no buyers’ excitement or strength, per the Stochastics and RSI, with the daily now trying to base in the 1.31 to 1.55 range (2009 pre-ASCO MM supported range?). The last few days tested the top, IMO caused by the excitement of the two 5k "figleaf purchases" of management (or the UMASS crowd, LOL) and the $2.4m contract extension.
What I see on the weekly is the flash crash that took out the 2.71 support – one of many old “post-June5, 2009” R/S lines still on my screen, followed by the short sellers driving the PPHM bus through the $2.5 PUT and into the current ditch. Noted, most (biotech) stocks bounced back after the crash.
IMO, our opening gap of May 28, 2009, ranging from 2.50 (prior day) to 3.20 (open) is the most interesting TA feature longer term. Heavy lifting for any news to drive thru this hole.
An aside, what do the institutional types holding 14% of our shares see or know? Might be very long term like us? Weird that Ameritrade shows no number for instit holdings whatsoever. Typical of management to surpress the only ok news.
Good luck,
NHwild
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