The olde fundamentalist here adds: you could easily fit a perfect straight line thru the minor price oscillations of the last two and 1/2 days of trading CRIS. I add my hopes that CRIS can sustain a venture into the >$5 territory, clearing the way for the other good things that happen there. The uptrend and the tight channel look good to me.
You want a chart to dream about? Take a look at this and IF the right news comes out over the coming months and years, we COULD experience a similar rise IMO. Several great things would have to happen but IMO it is not beyond the realm of possibilities. I just wish I fell in love with this stock instead of Curis years ago :-) This is what dreams and fortunes are made of. Full disclosure: I know nothing about this company and just was made aware of its run recently it is just being shown for illustration purposes. GLTA.
Agree with your sentiments as to the not too distant future, BigL, but CRIS is facing an uphill climb today between the broad market selloff and the dropping of shares on the Ask.
There were 46K+ shares just out there at $4.95, and now they've dropped down to load up a few thousand at $4.94 as well. With our volume slowing after the first half-hour, looks like at this point it'll be unlikely that we break out of this trading range today.
good luck -
DD -- Trading range has been tight since our last departure from the $4.55 level on 6/14.
From what I see, the difference is Bid support over the sessions since that time. The usual group of MMs is holding court on the Ask side frequently, but additional players have emerged on the Bid to limit the downside. This is very positive, and is likely Institutional accumulation.
Looks like there's another stand being made at $4.95 right now ... 27K on the Ask amongst the usual MM suspects.
good luck -
Last hour of trading today should be interesting.
Over the last 5+ sessions of trading we've had significant buying volume in the last half hour and a tendency to close at or near the high of the day. I get the feel that today's action could have a similar ending. Except for the early burst of volume and push over $4.90, this resembles the recent trading sessions.
good luck -
This stock continues to disappoint; have to be a masochist to follow it, waiting for the ship to come in; I remember back in spring of 2000 when Curis at its inception went to mid 20s and McNab back then cashed in big; he knew that stock appreciation then at the end of the tech bubble was a gift; not sure why he sold again, but let's face it making money in Curis this last decade has been the old fashioned way.
We need evidence that Erivedge can deliver on the revenue side to get this thing above $5; news like yesterday's announcement gives hope that it will exceed expectations, but in this type of market it's hard to generate sustained demand for a small biotech.