If we go up next week it would be a "Symetrical Triangle Breakout" and would be super bullish with increasing volume.
I would predict a run at 8s by Thurs/Friday
Once into the 8s in early April people would be placing bets on the Apr 12 conf paper(s) and some positive news.
After that conf, we should be past the last res at 8.40, and if no new PML has been reported by mid April everyone can assume there will be no more, and inst can start accuming and shorts will HAVE to cover as the price will be headed to 13.75....
because the three resistence points of 7.48, 7.80 and 8.40 are built on a technical basis, and we have had a functional "event" kicking us in the teeth.
Placing bets on the Apr 12 conf paper(s) and some positive news is a blip that wont solidify support, just a buying op or opportunty to sell some 6 months calls for those who want to hang around or newbies at lower buy in numbers.
If no new PML has been reported by mid April NO ONE in the conservative sue me now sue me later medical communitys can assume there will be no more, -- we already have a monsterload of institutional support, there are too few shares left to "load up", and the shorts have left town at anything between 7 and 29 a long time ago. The newbie shorts are nickel dime players with no sustaining power.
We don't get stable for another 6-9 months, and hanging around that long waiting for two bucks here and there is not the speculative crowds who abound in this arena's modus operandi.
Hope the publicity surronding all the hype and the patients and families of patients start making noise soon.