Who in his right mind would sell at this point? The MM and others are trying to make it look like there is heavy selling but who would believe it? EDAP should have very good earnings this quarter after the French gov't approval. With everything else on a roll, there's no selling here.
Just some minor consolidation and profit taking after run up last 2-3 days. Like I said will see $6 before July 31st.
Nothing goes up in a straight line. There are always short team jittery traders along the way.
The resistance should quickly be squashed as soon as the company releases the next press release stating the FDA facility audit went thru succesfully with minimum observations. The auditors are there now, wrap up meeting should take place tomorrow. Who is selling? shorts that are becoming desperate to find some relief in the current upside, adding to their position selling at the bid trying to cool this down. This will back fire as when we hear about the facility audit tomorrow they will have to run to cover. I expect more margin calls to occur triggering some additional covering willingly or unwillingly.