The short term pop could be because of ASCO but the real catalyst will be the phase 2 results coming out soon. The same thing with a partnership...snta will get a short term pop. Lot of upside here...lose 80% or make a double? This is a lotto stock...if you do not play the lottery then you shouldn't gamble with snta. I acutally used call options (stock substitute only) instead of buying shares to lower my risk. Tech may tell you this company is worth 100 Billion while Hail may tell you this company may only be worth the change in your pocket. Good luck.
The deathcross is irrelevant, Hail is all worked up about it, but I think it's meaningless, arguably it's a very strong contra-indicator that sets a floor at $4. I suppose I could be wrong.
My bigger concern, is whether the market has priced in good results from Synta already. After all they were very bullish during their conference call, and very bullish during the Deutsche conference. So everyone is expecting great results, yet the price hasn't really moved. Those lofty expectation may impact the stock. So while their is upside, I actually think the downside on news that doesn't meet expectations is greater, at which point the death cross Hail worries about may in fact matter. If the news beats lofty expectations, we get a pop, and then are subject to general market conditions throughout the summer.
So my prediction, it's near impossible to break that $4 floor, unless the Galaxy news doesn't meet the high expectations set, in which case Hail could end up being right.