Good luck with that beach. I ain't holding my breath, 'cos I bought in with every dollar I could afford at 2.65. Sold half since, at less than your buy-in point, because that put me on free shares.
Gaps have to be filled, but not when they are caused by the company involved (you know, that thing out in the real world, not the stock ticker) moving its real value. NBIX is still trading at less than the value of the contracts it has won in the last year - contracts with lots of cash up front and milestones mainly based on *development* not *approval*.
Keep talking it down, but if you'd buy at 6.20, why not at 7.50 ? You really think that'll make that much difference 12 months out ? Or is your horizon 12 days out ? 12 minutes out ? 12 seconds ?
There will be 3 buys starting at $6.20. I would have both a core position and a trading position.
a price to start selling traders? Who knows, factors like NBIX news cycle, general market conditions, volume& price all impact ones decision to sell. That said If I fill my position in the $6's some place around $9/$10 but!!
it would be the start of a channel trade scenario. Having some solid profits booked on the stock.